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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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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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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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LIC IPO takes equity cult deeper in India
HDFC Securities has rolled out a series of measures to attract LIC employees and agents at LIC offices across India on IPO and value proposition offered by it. By Malini Bhupta If there’s one company that can be credited for taking the equity cult to the masses, it has to be Reliance Industries. Back in 1977, the company drew scores…
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Bikaji Foods files draft IPO papers with SEBI; looks to sell 2.93 crore shares in entirely OFS issue
Bikaji Foods International said it will offer for sale 29,373,984 shares through which promoters Shiv Ratan Agarwal and Deepak Agarwal will be selling 2,500,000 shares each. FMCG company Bikaji Foods International, one of the largest manufacturers of ethnic savouries and sweets in the country, filed its draft red herring prospectus with capital markets regulator SEBI on Wednesday. The company said…
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Govt to go ahead with LIC IPO: Finance Minister Nirmala Sitharaman
Amid the crude prices close to $100 a barrel, the minister said that the surge in crude prices was a challenge. Finance Minister Nirmala Sitharaman on Tuesday said that the government would go ahead with the initial public offering (IPO) of Life Insurance Corporation of India (LIC), despite volatility in the market amid geopolitical concerns. Refusing to comment on if…
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EPFO to give LIC IPO a miss
For FY21, EPFO decided to liquidate some its investment in ETFs. The Employees’ Provident Fund Organisation (EPFO) will give LIC’s mega initial public offering (IPO) a miss. In sync with its very low-risk appetite investment approach, EPFO will continue to invest in equities through exchange-traded funds (ETFs) and not bet on individual stocks, an official source said. As per the…
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