LIC shares..! Weak Stock debut with a decline of 8 percent!

Sowmiya Sriram
LIC shares..! Weak Stock debut with a decline of 8 percent!

Shares of lic, which were listed on the bombay and National Stock Exchange today (May 17), fell more than 8 percent to trade at Rs 867.2. At that price, many people were interested in buying the stock, and rose slightly from the slump and traded at Rs 900 per share in 11 hours.
The central government is raising Rs 20,557 crore worth of shares in LIC. The initial stock issue for it started a few days ago. It was attended by lic, policyholders, employees, retail investors, and institutional investors. lic tripled, and applications were subscribed. But foreign investors have not invested heavily in it.
Meanwhile, the stock markets have been declining for the past week. Inflation, depreciation of the rupee against the dollar, rising production costs, and rising bank interest rates have weighed on the market. indian stock markets closed slightly higher on Monday. They are still found in the green today.
So there was an expectation that lic would be listed at a profit.But lic shocked investors with a fall of 8.11 percent over the quoted price, which has since recovered slightly and continues to fall by 5% as of 11 p.m. Policyholders are entitled to a discounted price of Rs.889 so they can see a profit of around Rs.10 per share.
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