LIC is finished. What is next target?

Experts have warned that this is not the right time for Life Insurance Corporation (LIC) to issue an IPO, as doing so could lead to a decline as in the case of Paytm. It was in this uncertain market situation that the LIC stepped into the stock market and was listed. Since then it has been seeing a sharp decline since the first day. The stock is currently trading at the level of Rs. 675.

The Indian stock market has seen a sharp decline amid a wide range of factors -international inflation in particular. The Federal Reserve is expected to intensify its action due to which the stock markets are currently in sharp decline.
Meanwhile, LIC's market capitalization fell to 4.3 trillion rupees. Its issue price is Rs. 949. Its market value is Rs. 6 lakh crore rupees. LIC is one of the stocks that destroyed the wealth of investors in Asia. Investors have lost about Rs 1.7 lakh crore in assets from IPO  alone. 

LIC is one of the worst losers in the stock market in the current year.  As LIC shares continue to fall, anchor investors will be more interested in selling LIC shares as they are not profitable as expected. Then the stock value will slide further.

But the central government raised Rs 21,000 crore by selling its 3.5 per cent stake. It is noteworthy that one per cent of the shares were sold to anchor investors. In this context, the reported move of the Union Government to privatize United India Insurance, one of the public insurance companies after LIC, has caused a great stir.

It is the achievement of the BJP Government to carry out one by one what it thinks right no matter any number of protests. But will the Government be concerned about the losses incurred by the shareholders due to the fall in the price of LIC shares?