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LIC share value slides under Rs 700 apiece as anchor lock-in ends in the present day
LIC Share Value, LIC Share Value Information: Life Insurance coverage Company’s (LIC) share value on Monday crashed round 3% on the NSE and BSE every to slip under Rs 700.
The scrip is prone to stay below strain this week because the lock-in interval for anchor traders ends in the present day (June 13). As soon as the lock-in ends, anchor traders can promote their shares within the open market.
Anchor traders had purchased practically 59.3 million shares of the state-run insurance coverage big a day earlier than the opening of the IPO. The corporate allotted 5,92,96,853 fairness shares to 123 anchor traders at Rs 949 apiece, elevating over Rs 5,600 crore.
LIC shares had been listed on the NSE and BSE on Might 17. The scrip has since then remained under the problem value of Rs 949. On Friday, the LIC share value hit a recent low of Rs 708.05 on the NSE and Rs 708.70 on the BSE. LIC share had final month made a excessive of Rs 918.95 apiece on the NSE and Rs 920 on the BSE.
After Friday’s closing, LIC’s market cap dipped to round Rs 4.34 lakh crore, based on the BSE information, because it stays below sell-off strain since its market debut. With the lock-in ending in the present day, it’s doubtless that the inventory will see an additional correction.
The federal government had garnered about Rs 20,500 crore by the sale of a 3.5 per cent stake in LIC by way of IPO final month.
READ MORE: Govt ‘concerned’ about dip in LIC share price; calls it temporary blip
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