LIC
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IPO's
LIC reports Rs 235-crore net profit in Q3
First year premiums in the quarter under review grew 9.94% year-on-year to Rs 8,748.55 crore from Rs 7,957.37 crore. Single premiums, however, de-grew 5.5% Y-o-Y to Rs 32,190.15 crore. Ahead of its initial public offering (IPO), Life Insurance Corporation of India (LIC) on Friday reported a net profit of Rs 234.91 crore for the December 2021 quarter, up from Rs…
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IPO's
LIC IPO details: Govt to notify price band, number of shares, discount, more in final SEBI filing soon
During the current financial year so far, Rs 12,423.67 crore has been obtained through OFS, employee OFS, strategic disinvestment and buyback. The government is planning to soon file the final papers for LIC IPO with market regulator Sebi, which will provide details about the price band, discount for policyholders and retail buyers, and the actual number of shares to be…
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IPO's
LIC Q3 net profit jumps to Rs 234.91 crore from less than Rs 1 crore a year ago, it says ahead of IPO
Life Insurance Corporation of India, the IPO-bound life insurer, said its fiscal third quarter profit after tax jumped to Rs 234.91 crores Life Insurance Corporation of India, the IPO-bound life insurer, said its fiscal third quarter profit after tax jumped to Rs 234.91 crores, from a mere Rs 0.91 crore in the same quarter in the previous year, primarily due…
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IPO's
LIC, India’s largest IPO so far, also quickest to get Sebi nod
Mumbai: The Securities and Exchange Board of India (Sebi) approved Life Insurance Corporation (LIC)’s initial public offering (IPO) proposal in 23 days – the fastest in the last sixteen years. Bankers said the speedy go-ahead for the country’s largest IPO so far has paved the way for quicker clearances in upcoming issues that would benefit IPO-bound companies. The state-owned insurer…
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IPO's
LIC IPO: Investment bankers advice Centre against a hurried launch
Investment bankers hired for the public listing of state-owned Life Insurance Corporation of India (LIC) have advised the government not to rush the offer, citing adverse market conditions and a lack of appetite for the share sale that’s set to be the country’s biggest ever. The Securities and Exchange Board of India (Sebi) approved LIC‘s draft red herring prospectus (DRHP)…
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Top News
LIC Gets Market Regulator SEBI’s Nod For IPO: Report
The government has plans to sell 5% of LIC’s stake. Bengaluru: India’s market regulator has approved state-owned Life Insurance Corp’s (LIC) initial public offering worth about $8 billion, TV channel ET Now reported on Wednesday, citing sources. The approval comes in the wake of reports that the initial share sale was set to be delayed to next financial year due…
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IPO's
LIC IPO gets SEBI green light, say reports; now over to govt to decide when to float mega public issue
Although SEBI has given its green light to the IPO, the government may delay the process owing to the current geopolitical situation. LIC IPO: Life Insurance Corporation of India (LIC) has received SEBI’s approval to float its mega public issue, CNBC-TV18 and ET NOW reported citing sources. State-owned LIC had filed the Draft Red Herring Prospectus (DRHP) for its IPO…
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Bonds
HDFC in talks with LIC to raise Rs 10,000 cr as credit demand outlook improves
Mumbai: India’s largest mortgage lender, Housing Development Finance Corp (HDFC), is in talks with LIC of India to raise up to ₹10,000 crore via a local bond sale this week, three people familiar with the matter told ET. The fundraising points to a likely revival in credit demand for new homes. The 10-year bonds may offer 7.25-7.35% and will likely…
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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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IPO's
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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