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LIC slips 5.8% as anchor investor lock-in ends; down 29% from issue price

LIC's stock traded at its lowest level since market debut on May 17, 2022

Most large global investors may give LIC's initial public offering a miss
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Deepak KorgaonkarBloomberg Mumbai
Shares of Life Insurance Corporation of India (LIC) slipped 5.85 per cent further to Rs 668.20  apiece on the BSE on Monday — the day lock-in period for anchor investors expired.  The state-owned insurance behemoth’s share price is down 29.59 per cent from its issue price of Rs 949 per share.  

An eye-popping $17 billion wipeout in market value has made LIC one of the biggest wealth destroyers among Asia’s initial public offerings this year. India’s biggest-ever IPO now ranks second in terms of market capitalisation loss since listing, according to the data compiled by Bloomberg. The drop puts it just