LIC Shares Hit All Time Low Level; Factors That Triggered Fall Of 18% Since IPO Listing

The shares of Life Insurance Corporation of India (LIC) hit all time low at Rs 777.40 apiece on the BSE at the closing with a loss of 2.86% and with today's fall the total market capitalization has also fallen below Rs 5 lakh crore. Now the current market capitalisation of LIC is 4.92 lakh crore. In one week, the shares of LIC has lost as much as 7.21%. Today's decline in the share of LIC has triggered a dip of almost 18% from the IPO issue price of Rs 949.

Earlier during the day the scrip opened at RS 800.25 and touched a low of 775.40 in the intra-day. With today's decline, the scrip has touched its lowest level ever since it got listed on May 17, 2022. Till date the share could not touch its IPO price of 949.

There are several factors that had triggered the sharp dip in the price of the share that may include weak global cues, surging oil prices, and soaring interest rates among others. The dip in the prices of the shares left shareholders disappointed.

It is worth mentioning that the market capitalization of LIC was registered at Rs 6,00,242 crore when it was listed on May 17.

LIC's initial public offering was subscribed 2.95 times.