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  • LIC IPO | Government appoints Kotak Mahindra, JP Morgan, Goldman Sachs, others as intermediaries Sep 08, 2021 06:40 PM IST

    LIC IPO | Government appoints Kotak Mahindra, JP Morgan, Goldman Sachs, others as intermediaries

    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.

  • LIC IPO | Govt selects 10 banks including Goldman Sachs, Citigroup to manage share sale Aug 27, 2021 06:13 PM IST

    LIC IPO | Govt selects 10 banks including Goldman Sachs, Citigroup to manage share sale

    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.

  • Govt may permit foreign direct investment in IPO-bound LIC: Report Aug 24, 2021 03:03 PM IST

    Govt may permit foreign direct investment in IPO-bound LIC: Report

    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.

  • Post LIC IPO, 60% of insurance biz to be with listed entities: Finance Ministry Aug 21, 2021 09:32 PM IST

    Post LIC IPO, 60% of insurance biz to be with listed entities: Finance Ministry

    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).

  • LIC IPO | Government issues tenders for transaction advisors Jul 15, 2021 07:34 PM IST

    LIC IPO | Government issues tenders for transaction advisors

    In its RFPs, DIPAM said that the potential size of the IPO is expected to be larger than any precedent in Indian markets.

  • Govt eases listing norms for companies having over Rs 1 lakh crore market capitalisation Jun 21, 2021 10:01 PM IST

    Govt eases listing norms for companies having over Rs 1 lakh crore market capitalisation

    The Department of Economic Affairs under the finance ministry has amended the Securities Contracts (Regulation) Rules.

  • How much value will the potential buyer assign to IDBI Bank? Jun 15, 2021 09:57 AM IST

    How much value will the potential buyer assign to IDBI Bank?

    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

  • Disinvestment target of FY'22 achievable; LIC IPO to bring in Rs 1 lakh crore: CEA Mar 27, 2021 03:27 PM IST

    Disinvestment target of FY'22 achievable; LIC IPO to bring in Rs 1 lakh crore: CEA

    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%.

  • INTERVIEW | Confident of listing LIC, selling BPCL, Air India in FY22, says DIPAM Secretary Tuhin Kanta Pandey Feb 02, 2021 08:43 PM IST

    INTERVIEW | Confident of listing LIC, selling BPCL, Air India in FY22, says DIPAM Secretary Tuhin Kanta Pandey

    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.

  • Budget 2021: FM Nirmala Sitharaman opens government purse-strings to revive growth Feb 01, 2021 01:17 PM IST

    Budget 2021: FM Nirmala Sitharaman opens government purse-strings to revive growth

    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.

  • Budget 2021 | Govt to go big on privatisation in FY22; FM announces details of strategic sector policy Feb 01, 2021 12:29 PM IST

    Budget 2021 | Govt to go big on privatisation in FY22; FM announces details of strategic sector policy

    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.

  • Budget 2021: LIC IPO to be out in FY22, says finance minister Nirmala Sitharaman Feb 01, 2021 12:07 PM IST

    Budget 2021: LIC IPO to be out in FY22, says finance minister Nirmala Sitharaman

    The finance minister added that legislative amendments to this effect will be launched in the Parliament in the budget session.

  • LIC IPO | Government appoints Milliman Advisors for valuing the insurer Dec 31, 2020 04:55 PM IST

    LIC IPO | Government appoints Milliman Advisors for valuing the insurer

    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.

  • With IPO and valuation in focus, LIC likely to pare IDBI Bank stake Dec 17, 2020 11:24 AM IST

    With IPO and valuation in focus, LIC likely to pare IDBI Bank stake

    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

  • Macro Minutes podcast | COVID-19 creates further roadblocks in govt's privatization and LIC IPO plans; a Diwali stimulus may be on the way Oct 29, 2020 06:20 PM IST

    Macro Minutes podcast | COVID-19 creates further roadblocks in govt's privatization and LIC IPO plans; a Diwali stimulus may be on the way

    In this episode, Arup Roychoudhury explains the progress in the governments privatisation plans.

  • Government to seek Cabinet approval to sell 25% stake in LIC: Report Sep 29, 2020 06:41 PM IST

    Government to seek Cabinet approval to sell 25% stake in LIC: Report

    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.

  • LIC IPO: Govt may sell up to 25% stake; bonus and discount for retail investors on the table Sep 07, 2020 02:03 PM IST

    LIC IPO: Govt may sell up to 25% stake; bonus and discount for retail investors on the table

    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.

  • LIC IPO: Govt clears appointment of SBI Caps, Deloitte as pre-listing transaction advisors Aug 21, 2020 10:39 PM IST

    LIC IPO: Govt clears appointment of SBI Caps, Deloitte as pre-listing transaction advisors

    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.

  • Edelweiss withdraws from LIC pre-IPO advisor selection over concerns of conflict of interest Jul 31, 2020 06:27 PM IST

    Edelweiss withdraws from LIC pre-IPO advisor selection over concerns of conflict of interest

    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.

  • Edelweiss, Deloitte selected as pre-IPO advisors for largest-ever LIC IPO Jul 28, 2020 09:42 PM IST

    Edelweiss, Deloitte selected as pre-IPO advisors for largest-ever LIC IPO

    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.

  • LIC IPO: Government invites bids for transaction advisors Jun 19, 2020 01:43 PM IST

    LIC IPO: Government invites bids for transaction advisors

    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

  • Explained | Why LIC's gross NPAs in debt portfolio at all-time high is a cause of concern Feb 27, 2020 06:34 PM IST

    Explained | Why LIC's gross NPAs in debt portfolio at all-time high is a cause of concern

    Moneycontrol's M Saraswathy explains why LIC's gross NPA in debt portfolio at an all-time high is a serious cause of concern.

  • 'LIC divestment an opportunity for govt to meet target, but not an easy thing to do' Feb 24, 2020 12:28 PM IST

    'LIC divestment an opportunity for govt to meet target, but not an easy thing to do'

    The mid-cap and small-cap valuations are attractive but having said that it may take multiple months before they start performing.

  • 'Coronavirus leaves opportunity for Indian cos to fill the gap left by Chinese manufacturers'   Feb 20, 2020 01:05 PM IST

    'Coronavirus leaves opportunity for Indian cos to fill the gap left by Chinese manufacturers'  

    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.

  • With IPO on the horizon, LIC's investments in equities under scrutiny Feb 10, 2020 03:57 PM IST

    With IPO on the horizon, LIC's investments in equities under scrutiny

    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

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