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IPO's
Govt may defer LIC IPO to next fiscal amid Ukraine crisis: Experts
Finance Minister Nirmala Sitharaman too had indicated a review of the IPO in view of the evolving geopolitical situation. The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers’ interest in the public issue, market experts said on Sunday. The government was…
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IPO's
LIC IPO poised to slip into next fiscal year amid Ukraine war; announcement expected this week or next
The mega initial public offering of Life Insurance Corporation of India is set to be delayed into the next financial year amid market swings triggered by Russia’s invasion of Ukraine, people with knowledge of the matter told Bloomberg News. The mega initial public offering of Life Insurance Corporation of India is set to be delayed into the next financial year…
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IPO's
LIC IPO may be deferred as Russia-Ukraine war roils markets; govt may wait to get better value
“It’s a full blown war now so we will have to assess the situation for going ahead with the LIC IPO,” a government source said. With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance…
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LIC IPO should be priced carefully: Market experts
If pricing is comfortable, liquidity will not be a concern and even retail confidence will be strong By Ruchit Purohit & Malini Bhupta The Life Insurance Corporation’s public offer could not have come at a worse time. Given the sharp volatility in markets across the world, with foreign portfolio investors heavily selling stocks since October, market experts believe that the…
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IPO's
LIC IPO may be postponed: Russia-Ukraine crisis & choppy state of markets prompt timeline review
The government is re-looking the timeline to ensure the state insurer’s debut is a successful one. The mega initial public offering (IPO) of Life insurance Corporation (LIC) is likely to be postponed given the deteriorating geopolitical situation and the consequent choppy state of the markets. The government is re-looking the timeline to ensure the state insurer’s debut is a successful…
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IPO's
LIC IPO may get delayed after Ukraine invasion; Nirmala Sitharaman open to reassessing timeline
The government had set a March deadline for the IPO and its IPO document filed on February India may take another look at the timing of Life Insurance Corp. of India’s initial share sale, the state-owned insurer, following Russia’s invasion of Ukraine, Finance Minister Nirmala Sitharaman said in an interview. “Ideally, I’d like to go ahead with it because we’d…
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JK Files & Engineering, Elin Electronics get Sebi’s go ahead to float IPOs
The companies, which filed their IPO preliminary papers with Sebi between November and December 2021, obtained regulator’s observation letter on February 23, latest update with Sebi showed on Monday. Raymond-promoted JK Files & Engineering and Elin Electronics have received capital markets regulator Sebi’s go ahead to raise funds through their initial public offerings (IPOs). JK Files & Engineering and Elin…
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Biocon Biologics to file for IPO within next 2 years: Kiran Mazumdar-Shaw
The Viatris acquisition would help Biocon Biologics become a unique global vertically integrated biosimilars leader, she added. Biocon Biologics, a subsidiary of Biocon, will file for an initial public offer (IPO) within next two years, Executive Chairperson Kiran Mazumdar-Shaw said on Monday. Biocon Biologics, which has inked a deal to acquire Viatris Inc’s biosimilars business for up to USD 3.33…
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Ahead of mega IPO, Modi Cabinet gives nod to 20% FDI limit in LIC
According to the current FDI policy, 74% foreign investment is permitted under the automatic route in the insurance sector. However, these rules do not apply to the LIC, which is governed through LIC Act. Ahead of the mega initial public offer of the Life Insurance Corporation in mid-March, the Union Cabinet on Saturday approved a 20% foreign direct investment limit…
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IPO's
LIC IPO: LIC splits Life Fund; check how shareholders’ gain would be policyholders’ loss
n the ‘risk factors’ section of the DRHP, LIC said that it is splitting the single ‘Life Fund’ into participatory and non-participatory funds. By Vaibhav Agrawal Life Insurance Corporation (LIC), India’s largest insurance company, filed its DRHP on February 13 and mentioned an amendment. In the ‘risk factors’ section of the DRHP, LIC said that it is splitting the single…
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