The government on Friday said it was “concerned” about the temporary blip in LIC scrip and the insurer’s management would look into these aspects and raise shareholders’ value.
Life Insurance Corporation (LIC) was listed on the bourses on May 17 at ₹872 a share. The government had fixed the issue price of LIC shares at ₹949 apiece after a successful Initial Public Offering (IPO) which was over-subscribed nearly 3 times.
Since the day of listing, LIC shares have remained below the issue price and had touched a low of ₹708.70 and a high of ₹920.
“We are very concerned about the temporary blip in LIC share price. People will take time to understand [fundamentals of] LIC. LIC management will look into all these aspects and will raise the shareholders’ value,” DIPAM secretary Tuhin Kanta Pandey said.
Shares of LIC closed at ₹709.70 on the BSE on Friday.
