LIC completes one year in the listed space: Here's a recap of the PSU insurance giant's mega IPO

LIC shares were listed on stock exchanges NSE and BSE on May 17, 2022. The stock, following a mega IPO of the state-run life insurance giant, debuted on the bourses at a discount of eight per cent to the issue price. Here's a quick recap.

LIC shares have tumbled more than 40 per cent from its IPO price and down by 35 per cent since listing - Image Source: Reuters

Life Insurance Corporation (LIC) shares completed one year in the secondary market on Wednesday, May 17, 2023. On this day last year, the stock of the state-run life insurance giant began trading on bourses BSE and NSE with the trading symbol LICI. At the current market price, the stock changes hands at a discount of 37-40 per cent to the price range of its mega IPO.

LIC investors have lost nearly Rs 2.5 lakh crore in wealth since the mega IPO given the insurer's market capitalisation of Rs 3.59 lakh crore, as of May 17.

Here are some of the key highlights as LIC turns one on Dalal Street:

LIC VNB margin increased

Duration	VNB margin
9MFY23	14.60%
FY22	15.10%
1HFY22	9.30%

LIC’s profit grew substantially

Duration	Revenue	PAT
9MFY23	Rs 5.9 lakh crore	Rs 22,990
FY22	Rs 7.2 lakh crore	Rs 4,043
FY21	Rs 6.8 lakh crore	Rs 2,900

LIC’s Mcap/EV down from 1.1 to 0.7

Date	Value	Mcap/IEV
30 Sep 2022	Rs 5.44 lakh crore	0.7
31 Dec 2021	Rs 5.40 lakh crore	1.1

LIC’s steady growth in Non-PAR segment

APE Bifurcation
Duration	PAR	Non-PAR
9MFY23	90.60%	9.40%
Q1FY23	92.20%	7.80%
FY22	92.90%	7.10%

What brokerages make of LIC shares

Most analysts are upbeat on LIC shares, mainly on the company's strong growth outlook.

TradeSwift Director Sandeep Jain believes LIC shares look good on the technical charts and have the potential to rise.

Jain sees LIC shares touching a high at Rs 1,100-odd levels in the long term. However, he adds that overhangs such as privatisation fears may affect the growth of the stock.

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