Shares of the insurance behemoth are down 40 percent over their issue price of ₹949 to ₹567 apiece. The Sensex, on the other hand, has risen 14 percent in the past one year. The stock price fall has led to a market cap erosion of LIC by ₹2.4 trillion.
At the IPO price, LIC was valued at 6 trillion, while its current market value is less than ₹3.6 trillion. At the time of listing, it was the country's fifth most valued company - behind Reliance Industries, TCS, HDFC Bank, and Infosys; now it's ranked thirteenth. LIC's ₹20,500-crore IPO, the country's largest ever, had attracted the highest-ever applications at 6.1 million, the bulk of them were from small investors and policyholders. However, LIC's poor showing after the listing has seen small investors lose interest, with its retail investor count dropping by nearly 700,000 in just five quarters.
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LIC's new business premium dropped about 50 percent year-on-year in April 2023 to ₹5,810 crore due to a sharp fall in group single premium, though private sector companies showed a growth of 8.5 percent.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.