Life Insurance Corporation of India (LIC), which has brought the biggest ever Initial Public Offering (IPO) in the Indian stock market, has also been on top in giving losses. On May 17 last year, LIC's market capitalization on share listing was 5.54 lakh crore, which has now come down to 3.60 lakh crore by 1.94 lakh crore.
LIC's stock is down 40 percent from its listing price. The IPO which came for Rs 949 is now at Rs 568. Still, the government's stake remains at 96.5%. In terms of market capitalization, LIC has slipped from the 5th to the 13th position. Since listing, LIC's stock has never reached the IPO price. In a year, the share of mutual funds decreased from 0.74% to 0.63% and that of foreign investors decreased from 0.12% to 0.8%. However, the stake of retail investors has increased from 1.88 to 2.04 percent. Even though the share of retail investors is increasing, their number is decreasing. At the time of the IPO, the total retail investors were 39.89 lakhs, which has now come down to 33 lakhs by 6.87 lakhs.
LIC had raised Rs 21,000 crore
LIC raised 21,000 crores from IPO last year. This is the biggest IPO ever. Earlier in 2010, Coal India had brought an IPO of 15,200 crores. General Insurance Corporation raised 11,257 crores in 2017 and SBI Cards raised 10,341 crores in 2020.
(PC: Freepik)
