LIC IPO: Despite loss in Maha-IPO, LIC made record, became 5th most valuable company as soon as it was listed
LIC IPO
LIC IPO: Investors across the country were waiting for the listing of LIC’s Maha IPO. But when LIC’s IPO was listed in the stock market on Tuesday morning, the atmosphere of despair spread all around. The government had fixed its issue price at Rs 949. But soon after the listing, the stock declined. The stock closed at 875.45 after touching a high of 918 in the day’s trading.
Despite the decline in the day’s trading, the country’s largest insurance company has made a special record in its name. LIC has become the 5th most valuable company in the country since the day of listing. Its market cap is Rs 5.53 lakh crore at the close of business on Tuesday. Let us tell you that Reliance Industries is at the forefront of the country’s most valuable companies. Its market cap is Rs 1,642,248.1 crore.
These are the top 5 valuable companies of the country
Tata Group’s company TCS is at number two after Reliance. Its market cap is Rs 1,235,533.58 crore. HDFC Bank has a market cap of Rs 724,496.17 crore and is at number four. Infosys, the country’s second largest IT company, is the fourth most valuable company in the country with a market cap of Rs 626,593.64 crore.
4th most valuable insurance company in the world
The market cap of LIC will be more than five times that of HDFC Life Insurance Company, the country’s second largest insurance company. The market cap of HDFC Life Insurance is Rs 116,187.35 crore. Also LIC will be the fourth most valuable insurance company in the world. Currently, China’s Ping An Insurance of China is the most valuable insurance company in the world. AIA Group is second and China Life is at number three.
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