CAUSE
One question. One truth.
“Why did LIC's IPO underperform?”
LIC's declining core profitability, marked by a 20.7% drop in profit before tax (excluding other income) for the quarter ending September 2025, is the primary cause of its IPO underperformance. This has undermined investor confidence despite LIC's market dominance.
Medium confidenceStructural
CURRENT STATE
As of January 2026, LIC shares are trading approximately 14% below their IPO price, with institutional ownership at just 1.48%. The stock's performance has consistently lagged the Sensex across multiple time horizons.
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