Latest News | Govt Concerned About Dip in LIC Share Price; Calls It Temporary Blip

New Delhi, Jun 10 (PTI) The government on Friday said it is "concerned" about the temporary blip in LIC scrip and the insurer's management will look into these aspects and raise shareholders' value.

Life Insurance Corporation (LIC) was listed on the bourses on May 17 at Rs 872 a share. The government had fixed the issue price of LIC shares at Rs 949 apiece after a successful Initial Public Offering (IPO) which was over-subscribed nearly 3 times.

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Since the day of listing, LIC shares have remained below the issue price and had touched a low of Rs 708.70 and a high of Rs 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.

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Shares of LIC closed at Rs 709.70 on the BSE on Friday.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)