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The Life Insurance Corporation of India (LIC) is India’s largest state-owned, public insurance and investment entity, that came into being on 1st September, 1956, after merging over 245 societies and companies in this space. With an extensive rural and urban presence, LIC singularly commands a mammoth 69 percent stake in the Indian insurance industry. The company offers a wide range of insurance plans, namely life insurance, term insurance, endowment plans, insurance riders and more. The government i.e. the Ministry of Finance currently holds about 100 percent of the entity, but there have been deliberations of selling about 10 percent of its stake in LIC, in a phased manner, through IPO (Initial Public Offer). Once listed on a public exchange, LIC will have a market capitalization of nearly Rs 8-10 crore. The extensive network of LIC agents can be estimated from the fact that as on 31st March, 2021, the company had almost 13 lakh agents, as compared to around 11 lakh agents for over 20 combined private life insurers. Currently, as per its recent annual reports, LIC has around 2,048 branches across the country, while also having presence in the mutual funds, pension funds and the housing finance space as well. More

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637 Results Found
  • LIC invites its policyholders to become shareholders by updating PAN and demat details Dec 01, 2021 03:46 PM IST

    LIC invites its policyholders to become shareholders by updating PAN and demat details

    The finance ministry has indicated that up to 10 percent of LIC’s IPO issue size could be reserved for its policyholders

  • IPO-bound LIC asks its policyholders to update PAN for participation in public offer Dec 01, 2021 02:05 PM IST

    IPO-bound LIC asks its policyholders to update PAN for participation in public offer

    As per the proposed plan, up to 10 per cent of the LIC IPO issue size would be reserved for policyholders.

  • LIC IPO: Valuation takes the centre-stage Nov 25, 2021 05:02 PM IST

    LIC IPO: Valuation takes the centre-stage

    LIC is likely to be the country’s most valued company on its listing and will herald a new era in India’s financial and insurance market

  • Moneycontrol Pro Panorama | What is really ailing LIC? Nov 09, 2021 04:56 PM IST

    Moneycontrol Pro Panorama | What is really ailing LIC?

    In today’s edition of Moneycontrol Pro Panorama: Tata Motors back in the game, Eicher kicks into top gear, economy’s Diwali sparkle, the crypto talk and more

  • Zee-Invesco row | Have not taken any call yet: LIC Chairman MR Kumar Nov 02, 2021 02:22 PM IST

    Zee-Invesco row | Have not taken any call yet: LIC Chairman MR Kumar

    Zee has received an injunction order against calling extra ordinary general meeting (EGM) from the Bombay High Court on October 26. The company had also cancelled its board meeting for October 27.

  • Why institutions’ lowering their stake in listed companies is not bad news  Nov 02, 2021 09:27 AM IST

    Why institutions’ lowering their stake in listed companies is not bad news 

    Shares have been purchased by the strongest buyer in the market, one with the best understanding of the companies they are buying – the promoters of these companies. 

  • Govt may not need to amend any law for permitting foreign participation in LIC IPO Oct 06, 2021 09:10 PM IST

    Govt may not need to amend any law for permitting foreign participation in LIC IPO

    Foreign participation would be allowed as per the listing norms of the Securities and Exchange Board of India (SEBI) and the extant sectoral FDI guidelines

  • LIC to file draft IPO papers with Sebi next month Oct 03, 2021 11:23 AM IST

    LIC to file draft IPO papers with Sebi next month

    The government last month appointed 10 merchant bankers, including Goldman Sachs (India) Securities Pvt Ltd, Citigroup Global Markets India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd to manage the mega initial public offering of country's largest insurer LIC.

  • Monitoring situation at Zee, policyholders' interest paramount: LIC Sep 30, 2021 12:31 PM IST

    Monitoring situation at Zee, policyholders' interest paramount: LIC

    LIC, which owns 4.89 percent stake in Zee Enterprises, also said that it would continue to monitor the proceedings in NCLT.

  • Exclusive: Bharat Petroleum privatisation, LIC IPO to be completed in Q4FY22: Chief Economic Advisor Sep 28, 2021 06:09 PM IST

    Exclusive: Bharat Petroleum privatisation, LIC IPO to be completed in Q4FY22: Chief Economic Advisor

    Subramanian said that Air India’s privatisation is in an advanced stage, and that the government was confident of meeting the FY22 divestment target of Rs 1.75 lakh crore.

  • Interview | Inflation should remain range-bound till December, says chief economic advisor Sep 28, 2021 06:00 PM IST

    Interview | Inflation should remain range-bound till December, says chief economic advisor

    Strap: Chief economic advisor Krishnamurthy Subramanian said the Centre is confident of completing the privatisation of Air India and Bharat Petroleum and the Life Insurance Corporation initial public offering by the fourth quarter

  • LIC seeks to appoint CFO before its mega IPO planned in 2021/22 Sep 28, 2021 01:15 PM IST

    LIC seeks to appoint CFO before its mega IPO planned in 2021/22

    The move to hire a CFO follows a decision to re-designate LIC's top job to chief executive officer from chairman earlier this year.

  • Confident that LIC listing should happen by fourth quarter of this year: CEA K Subramanian Sep 25, 2021 08:57 PM IST

    Confident that LIC listing should happen by fourth quarter of this year: CEA K Subramanian

    The government has recently appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC.

  • IDBI Bank strategic sale: Most merchant bankers indicate 52 weeks' time; KPMG places Re 1/bid Sep 19, 2021 02:33 PM IST

    IDBI Bank strategic sale: Most merchant bankers indicate 52 weeks' time; KPMG places Re 1/bid

    The Cabinet had in May given in-principle approval for IDBI Bank's strategic disinvestment along with transfer of management control.

  • Indian law firms reluctant to advise on IPO of insurance giant LIC: Sources Sep 15, 2021 02:49 PM IST

    Indian law firms reluctant to advise on IPO of insurance giant LIC: Sources

    With millions of policyholders and a share of 66% of new premium collections in a crowded insurance market, LIC is a household name, managing assets of more than $450 billion.

  • Private life Insurers saw strong growth in August; LIC's first-year premium dropped Sep 13, 2021 06:51 PM IST

    Private life Insurers saw strong growth in August; LIC's first-year premium dropped

    The life insurance sector's Annual Premium Equivalent grew at 15 percent y-o-y in August 2021.

  • India considering foreign institutional investment of up to 20% in LIC IPO: Report Sep 08, 2021 01:55 PM IST

    India considering foreign institutional investment of up to 20% in LIC IPO: Report

    The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to 900 billion Indian rupees ($12.24 billion) from its stake sale.

  • LIC picks nearly 4% stake in Bank of India through open market transaction Sep 03, 2021 11:04 PM IST

    LIC picks nearly 4% stake in Bank of India through open market transaction

    Before the latest acquisition of shares in the bank, LIC held over a 3.17 per cent stake in the state-owned bank. The bank said that LIC's stake in Bank of India has now increased to 7.05 per cent, equivalent to 28,92,87,324 shares.

  • 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.

  • 16 merchant bankers in race for managing LIC IPO Aug 23, 2021 11:09 PM IST

    16 merchant bankers in race for managing LIC IPO

    The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March).

  • LIC allows policyholders to revive lapsed policies; here's how it works Aug 23, 2021 04:56 PM IST

    LIC allows policyholders to revive lapsed policies; here's how it works

    The policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to certain terms and conditions, LIC said.

  • 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).

  • Cryptocurrency regulation work nearly complete: FM Sitharaman Aug 18, 2021 11:47 AM IST

    Cryptocurrency regulation work nearly complete: FM Sitharaman

    Finance Minister Nirmala Sitharaman said that the work on the regulation of cryptocurrency was nearly complete and the cabinet had to decide on it now.

  • LIC IPO may be split into two offerings: Report Aug 13, 2021 09:13 AM IST

    LIC IPO may be split into two offerings: Report

    From January-July, more than Rs 50,000 crore raised via IPOs. Experts told Moneycontrol that about 18 companies could raise about Rs 28,000 crore through their IPOs in August.

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ISO 27001 - BSI Assurance Mark