Investors lose Rs 1.2 lakh cr as LIC shares tumble 20% below issue price

The government had offloaded 3.5 per cent of its stake through the IPO route. The IPO valued LIC at Rs 6 lakh crore.

Investors lose Rs 1.2 lakh cr as LIC shares tumble 20% below issue price

Those investors who had put their money in the initial public offerings of Life Insurance Corporation of India had experienced a heavy depreciation in their portfolio, as the shares of the insurance major have been tumbling ever since its exchange listing.

The government had offloaded 3.5 per cent of its stake through the IPO route. The IPO valued LIC at Rs 6 lakh crore.