Considering today's closing figure, LIC has plunged 18.08 per cent from its issue price of Rs 949.
- The slump has dragged LIC's market capitalisation below Rs 5 lakh crore for the first time. The market capitalisation of LIC fell to Rs 4.91 lakh crore on Monday. At the issue price of Rs 949, LIC's market valuation stood a little over Rs 6 lakh crore.
- LIC shares got listed on the stock exchanges on May 17. Since its listing, the scrip has closed in the green for just four trading sessions.
- Last week, the state-run insurer posted a 17 per cent decline (yearly) in consolidated net profit at Rs 2,410 crore for the March 2022 quarter.
- However, LIC's net premium income stood 17.9 per cent higher at Rs 1.4 lakh crore from Rs 1.2 lakh crore in the corresponding quarter year ago.
- Policyholders were offered a discount of Rs 60 per equity share, while retail investors and employees received a discount of Rs 45 on each share. LIC policyholders were allotted shares at Rs 889 per share, while retail investors got the allotment at Rs 905 per share.
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