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in Economy

With $17-bn wipeout, LIC IPO among biggest wealth destroyers in Asia

by Editor June 13, 2022, 7:59 pm 2k Views

Photo: Bloomberg

An eye-popping $17-billion wipeout in market value has made Life Insurance Corp of India one of the biggest wealth destroyers among Asia’s initial public offerings this year.

Having plunged 29% since its May 17 debut, India’s biggest ever IPO now ranks second in terms of market capitalization loss since…

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