Life Insurance Corporation's public offer started with widespread fanfare, but apart from a euphoric subscription, it has all been downhill for the insurance behemoth. India's biggest initial public offering (IPO) received an overwhelming response with its issue oversubscribed nearly three times, which has turned out to be the only bright spot in the so-called phase termed "LIC 2.0."
Life Insurance Corporation (LIC) shares have been tumbling since their market debut on May 17. Investors who had put their money in the initial public offerings of LIC are experiencing a heavy depreciation in their portfolio as the scrip is down more than 20 per cent from the issue price of Rs 949.