New Delhi: Share value of Life Insurance coverage Company of India (LIC) slumped to a brand new file low of Rs 720.10 on Thursday, which is sort of 25 per cent down from its IPO difficulty value of Rs 949. On the BSE, Life Insurance coverage Company of India share was buying and selling 1.56 per cent down at Rs 726.50 at 12.42 pm in opposition to its earlier day`s shut at Rs 738. The scrip hit a file low of Rs 723.70 within the intra-day. The share value of LIC has fallen sharply since its itemizing on the inventory trade on Could 17.
LIC shares have been allotted to the buyers at Rs 949 apiece. It acquired listed on the inventory exchanges at low cost. The very best stage it has touched is Rs 920.
There was constant erosion out there worth of the nation’s largest insurer.
On the difficulty value of Rs 949 the market capitalisation of Life Insurance coverage Company (LIC) of India stood at Rs 6,00,242 crore.
On Thursday, the market capitalisation of LIC slumped to almost Rs 4.6 lakh crore. In lower than one month of its itemizing, nearly one-fourth of LIC`s market worth has been worn out. Since its itemizing, the scrip has closed within the constructive 4 classes.
For the remainder of the times, it witnessed promoting stress. The preliminary public providing of LIC, which was open for subscription from Could 4 to Could 9, was subscribed 2.95 instances. The federal government-run LIC is by far the biggest insurer in India.
The market share of LIC in particular person insurance policies was 74.60 per cent for the monetary 12 months ended March 31, 2022. Within the Group enterprise the market share of LIC throughout 12 months ended March 31, 2022 was 89.07 per cent by variety of insurance policies/schemes and 76.16 per cent by first-year premium. Additionally Learn: Financial institution Holidays: Branches to stay closed between June 11 and 15, verify necessary dates
The market share of LIC as on the finish of thirty first March 2022 was 63.25 per cent in composite First 12 months Premium revenue. Additionally Learn: Rupee hits new file low in opposition to US greenback