On June 6, LIC’s market capitalization fell below Rs. 5 lakh crore, indicating a significant drop in its value.
LIC, however, remains the seventh largest company on the BSE in terms of market capitalization.
On Monday, the life insurance behemoth LIC was in a bloodbath, with shares hitting a new all-time low. Investors in the insurer have lost more than Rs.1.08 lakh crore since the IPO’s launch due to the IPO’s issue price.
Bears have been dragging LIC shares broadly since its listing less than a month ago, and the stock’s downside has been in the double digits.