According to Sebi’s rules for anchor investments in IPOs, the investors had to hold the shares for at least one month since allotment in the offer, which was on May 13. So, this lock-in period of anchor shares will be over on June 13.
In Friday’s session, the stock opened at Rs 715, touched the all-time low and closed at Rs 709. 7. LIC has now lost a little over 25% from its final IPO price of Rs 949. LIC’s policyholders had got the shares at a per-share discount of Rs 60, while for retail investors the discount was Rs 45.
A day before its IPO opened on May 4, LIC had allotted shares worth Rs 5,627 crore to a large number of domestic investors like mutual funds and insurance companies, and to some foreign funds. The shares were allotted at Rs 949, the final IPO price. Over 70% of LIC’s anchor investors were domestic mutual funds.
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