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Sep 08, 2021 06:40 PM IST According to the latest circular, LIC appointed Kotak Mahindra Capital Company, Goldman Sachs India Securities, JP Morgan India, ICICI Securities, JM Financial, Citigroup Global Markets India, Nomura Financial Advisory and Securities (India), Axis Capital, DSP Merrill Lynch, and SBI Capital Markets as book running lead managers.
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Aug 27, 2021 06:13 PM IST The government expects to raise Rs 80,000 crore-90,000 crore ($11 bln-12.2 bln) from its stake sale in Life Insurance Corp (LIC), as part of its plans to raise Rs 1.75 lakh crore from a privatisation programme in the current fiscal year ending in March 2022.
- Aug 24, 2021 03:03 PM IST
Although 74 percent FDI is permitted in the insurance sector, the norm does not apply to LIC so far as the company is a special entity formed through a legislation passed in the Parliament.
- Aug 21, 2021 09:32 PM IST
The Cabinet Committee on Economic Affairs (CCEA) had in July given its in-principle approval for the listing of insurance behemoth Life Insurance Corporation of India (LIC).
- Jul 15, 2021 07:34 PM IST
In its RFPs, DIPAM said that the potential size of the IPO is expected to be larger than any precedent in Indian markets.
- Jun 21, 2021 10:01 PM IST
The Department of Economic Affairs under the finance ministry has amended the Securities Contracts (Regulation) Rules.
- Jun 15, 2021 09:57 AM IST
While the current valuation of IDBI Bank is pricing in the improvements in operating metrics and profitability, there can be further upside, driven by the potential sale of bank
- Mar 27, 2021 03:27 PM IST
The RBI's Monetary Policy Committee has been mandated to maintain annual inflation at 4 per cent until March 31 with an upper tolerance of 6% and lower limit of 2%.
- Feb 02, 2021 08:43 PM IST
DIPAM Secretary Tuhin Kanta Pandey told Moneycontrol that while the names of two state-owned banks and one general insurance company to be privatised are yet to be decided, just announcing that PSBs are up for privatisation was a big statement of intent in itself.
- Feb 01, 2021 01:17 PM IST
Stating that fighting the COVID-19 pandemic remains the Centre’s biggest priority, Finance Minister Nirmala Sitharaman proposed to set aside Rs 2.46 lakh crore for healthcare, with Rs 35,000 crore earmarked for the coronavirus vaccine programme.
- Feb 01, 2021 12:29 PM IST
The government has pegged the disinvestment target for FY22 at Rs 1.75 lakh crore. This will include the shedding of Centre's stake in two state-owned banks and a general insurance company, and large-scale asset sales, Finance Minister Nirmala Sitharaman said during her budget presentation.
- Feb 01, 2021 12:07 PM IST
The finance minister added that legislative amendments to this effect will be launched in the Parliament in the budget session.
- Dec 31, 2020 04:55 PM IST
This is the first step in what is set to be a long process in public listing of LIC. After this, transaction and legal advisors will also be selected.
- Dec 17, 2020 11:24 AM IST
The government is keen for LIC to start divesting its stake so that the insurer can focus on its core business and also gain financially from the stake sale. The move should help build financial value for the insurer in the run up to its initial public offering
- Oct 29, 2020 06:20 PM IST
In this episode, Arup Roychoudhury explains the progress in the governments privatisation plans.
- Sep 29, 2020 06:41 PM IST
Earlier this year, Finance Minister Nirmala Sitharaman had announced in her budget speech that the government would divest its stake in LIC through an IPO.
- Sep 07, 2020 02:03 PM IST
The initial public offering of Life Insurance Corporation of India likely to be bigger as the government plans to incentivise the participation of retail investors by offering discounts and issuing bonus shares. Draft Cabinet note floated to push through amendments in LIC Act.
- Aug 21, 2020 10:39 PM IST
LIC's valuation is estimated at Rs 9-10 lakh crore, which means that even an 8 percent stake sale could mean an IPO worth Rs 80,000-90,000 crore.
- Jul 31, 2020 06:27 PM IST
Edelweiss has voluntarily opted out of the process following concerns raised by the government on a potential conflict of interest scenario due to its existing life insurance joint venture with Tokio Marine.
- Jul 28, 2020 09:42 PM IST
The scope of the mandate includes advising the Centre on the modalities of the IPO and the timing, and arriving at an optimal capital structure.
- Jun 19, 2020 01:43 PM IST
To be eligible to bid as an advisor for the LIC IPO, the firm must have at least three years experience in IPO advisory/M&A/disinvestment/strategic sale or private equity transactions
- Feb 27, 2020 06:34 PM IST
Moneycontrol's M Saraswathy explains why LIC's gross NPA in debt portfolio at an all-time high is a serious cause of concern.
- Feb 24, 2020 12:28 PM IST
The mid-cap and small-cap valuations are attractive but having said that it may take multiple months before they start performing.
- Feb 20, 2020 01:05 PM IST
Imports of parts from China would certainly be affected for a while due to the Coronavirus outbreak. But, at the same time, there is an opportunity for Indian companies to fill in the gap left by Chinese manufacturers.
- Feb 10, 2020 03:57 PM IST
LIC's investments in equities have been just 54.5 percent of its fiscal target. But it has achieved 94 percent of the target (as of January 31) as far as equity profits are concerned
