Shares of Life Insurance Corporation of India hit record low of ₹682 on the BSE in opening deals. 30-day lock-in period for anchor investors end today. Anchor investors, who bought over 59 million shares, can sell their shares in the open market from Monday.
Anchor investors are high-profile institutional investors that are allotted shares before the subscription opens for retail and other investors. In most cases, selling pressure persists over the day as anchor investors no longer are bounded to remain invested in these companies after the mandatory lock-in period.
LIC share price has fallen sharply since its listing on the stock exchange. The stock is about 25% down from its IPO issue price of ₹949 per share. LIC shares were allotted to the investors at ⁹949 apiece and got listed at discount.
The government on Friday said it is ‘concerned’ about the temporary dip in the insurance giant’s stock price and assured that the insurer’s management will look into these aspects and raise shareholders’ value.
The insurer posted a 17% decline in consolidated net profit to ₹2,409 crore for the fourth quarter ending March 2022.
Analysts at Mehta Equities say the company will find interest from domestic retail and HNI investors as well as institutional investors.
Anchor investors oversubscribed a day before the initial share sale of the Life Insurance Corporation of India (LIC) was opened for subscription. The government raised more than ₹20,000 crore by diluting its 3.5% stake in the state-owned insurer.
Janhvi Kapoor makes fans think of Elsa from the movie “Frozen” as Deepika Padukone hugs Kartik Aaryan at an awards ceremony.
It’s no secret that Janhvi Kapoor is a big fan of the movie “Frozen.” So, when Deepika Padukone hugged Kartik Aaryan at an awards ceremony, it was only natural for fans to think of Elsa.
Elsa is known for her icy powers and her ability to stay cool under pressure. Similarly, Janhvi Kapoor is known for her calm and collected demeanor. Just like Elsa, Janhvi always looks like she knows exactly what she’s doing.
Deepika Padukone and Kartik Aaryan are two of the hottest stars in Bollywood right now. They’re both incredibly talented and good-looking. So, it’s no surprise that fans were quick to compare Janhvi Kapoor to Elsa when they saw the photo of Deepika hugging Kartik.
Janhvi Kapoor is definitely one to watch out for in the coming years. She’s got the looks, the talent, and the attitude to make it big in Bollywood. We can’t wait to see what she does next!
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