Mumbai: The market capitalization (m-cap) of Life Insurance Corporation (LIC) fell by Rs 80,000 crore in the Indian equity market. The shares of India’s largest insurance company were introduced in the share market on May 12 this year. On that day, LIC lost around Rs 42,500 crore market capitalizations (m-cap). Since then, the m-cap of public sector insurance giant fell by Rs 38,000 crore.
At the time of issue, the market capitalization of LIC stood at Rs 6,00,242 crore. At the issue price of Rs 949, the valuation of LIC dipped to Rs 5,57,675 crore, resulting in a loss of around Rs 42,500 crore.
LIC lost around Rs 80,600 crore from the issue price and Rs 38,045 crore loss from the discounted listing price on yesterday. At present the m-cap of LIC is at Rs 5,19,630. On Friday, LIC’s shares settled at Rs 821.55. it is 13.5% lower than its issue price and a more than 5.2%loss from its listing price.