First off all the timing of the Lic ipo was not correct and now LIC Tumbles To Fresh Low As Anchor Lock-In Ends.
Shares of LIC fell to a fresh low for the fourth day in a row as the regulatory lock-in on shares allotted to anchor investors in IPO ends today. This is the ninth straight session in which the scrip as fallen. Over the period, the stock lost 15%.
The anchor lock-in has been raised to 90 days but SEBI eased the rules for LIC to keep it at 30 days applicable earlier.
India's largest life insurer has tumbled 34% from its issue price. The market cap of the stock as on today has fallen to Rs 4.52 lakh crore. LIC's market cap at the upper end of price band of Rs 949 was Rs 6 lakh crore.
India's largest life insurer has tumbled 34% from its issue price. The market cap of the stock as on today has fallen to Rs 4.52 lakh crore. LIC's market cap at the upper end of price band of Rs 949 was Rs 6 lakh crore.
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