Things appear to be going from dangerous to worse for individuals who invested in insurance large LIC’s IPO. After a disappointing debut on itemizing day In May 2022, LIC’s shares continued to bleed and attain new all-time lows prior to now 4 months, with the primary occasion being barely a month after the IPO, i.e., in June.
And right now is not any exception. LIC shares have once more hit an all-time low mark right now.
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Life Insurance Corporation of India’s shares slumped 2% to a brand new document low of Rs 588 on each the NSE and BSE throughout intra-day buying and selling right now, and closed at Rs 588.95 on the NSE and Rs 589.30 on the BSE, after opening the day at Rs 601 on the BSE and Rs 601.15 on the NSE within the morning.
Considering right now’s closing figures,LIC’s share value has plunged greater than 32% on each the BSE and NSE, because the day it acquired listed after IPO.
All this comes even after the mega IPO of LIC, which was open for subscription from May 4 to May 9, acquired subscribed 2.95 instances.
The nation’s largest insurer, LIC, had set its value band for the Initial Public Offer (IPO) at Rs 902 to Rs 949 per fairness share. As the IPO was absolutely subscribed, the problem value stood at Rs 949 per share.
LIC shares had been listed on the nationwide inventory exchanges on May seventeenth, 2022, at an over 8% low cost, which was the primary of many disappointments in line for the traders.
Also Read: SBI Surpasses Insurance Giant LIC To Become The Most Valuable Public Sector Stock
New All-Time Lows For Delhivery & PB Fintech
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And that’s not all.
Today additionally marked new all-time lows for PB Fintech and for Delhivery as properly each of which had launched their IPOs and acquired listed on November fifteenth, 2021 and May twenty fourth, 2022 respectively.
PB Fintech shares fell over 4% to hit their new all-time low of Rs 373.10 on the BSE and Rs 372.80 on the NSE throughout intra-day buying and selling and closed at Rs 383 on the NSE and Rs 384.35 on the BSE. The Delhivery share value dropped practically 19% right now, hitting its new all-time low mark of Rs 377.05 on the BSE and Rs 376.95 on the NSE, earlier than recovering barely to shut at Rs 386.55 on the BSE and Rs 381.6 on the NSE.
Also Read: Here’s How Some Of The Biggest IPOs Have Performed This Year
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