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LIC IPO investors are still sitting at a loss as the stock is trading 13.6% below its issue price of Rs 949. However, in the last few weeks, the stock has seen fresh buying interest. In the last month alone, LIC is up 25%.
Nowhere in the world is the difference in market share between the largest and the second largest life insurer as stark – with the second largest player at only 8% compared to LIC's 64%.
The government aims to raise around Rs 21,000 crore from the public issue by divesting a 3.5% stake in the insurance giant.