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4 out of 7 insurance, MF IPOs trade 22% below issue price in aggregate

Despite the underperformance in some cases, analysts suggest investors should hold on to these stocks for now

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Deepak KorgaonkarPuneet Wadhwa Mumbai / New Delhi
Investors who subscribed to the shares of companies engaged in insurance and mutual fund businesses through initial public offering (IPO) have lost their money, with four out of seven stocks underperforming the market since their listing. These five companies collectively raised Rs 306 billion through IPOs, which is currently valued 22 per cent lower at Rs 239 billion.

Except for HDFC Standard Life Insurance Company and ICICI Lombard General Insurance Company, the remaining five companies have given lower returns as compared to the benchmark S&P BSE Sensex.

Also Read: HDFC AMC IPO opens for subscription today. Should you invest?

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