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  • 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.

  • Govt to list LIC by current fiscal year end, says govt official Aug 11, 2021 11:53 AM IST

    Govt to list LIC by current fiscal year end, says govt official

    The government also expects to complete selling state-owned refiner Bharat Petroleum Corp Ltd and national carrier Air India in the current fiscal year that runs through March 2022, said Tuhin Kanta Pandey, secretary, department of investment and public asset management.

  • Confident of completing Air India, BPCL privatisation this fiscal: DIPAM Secretary Aug 11, 2021 11:19 AM IST

    Confident of completing Air India, BPCL privatisation this fiscal: DIPAM Secretary

    "There is a very big privatization agenda and that would mean that apart from NCLT, there will be a lot of assets on offer which will come from the public sector," Tuhin Kanta Pandey said.

  • Delhi HC junks plea of father who wants minor daughter to use his surname, says every child has right to decide Aug 06, 2021 03:51 PM IST

    Delhi HC junks plea of father who wants minor daughter to use his surname, says every child has right to decide

    While rejecting the petition, the bench headed by Justice Rekha Palli said a "father does not own the daughter", and that every child has the right to use the mother's surname.

  • EPFO invests Rs 7,715 crore in equity in April-June Aug 02, 2021 09:01 PM IST

    EPFO invests Rs 7,715 crore in equity in April-June

    The EPFO can invest up to 15 per cent of investment in equity as per the Pattern of Investment notified by the central government and the internal guidelines of the EPFO approved by the Central Board of Trustees (CBT), Employees' Provident Fund (EPF).

  • Govt to do away with clause mandating it to hold majority stake in insurance companies: Report Jul 26, 2021 03:00 PM IST

    Govt to do away with clause mandating it to hold majority stake in insurance companies: Report

    The move would allow foreign companies to hold upto 74 percent stake in the divested general insurance company.

  • LIC Saral Pension: Low annuity rates, but trust factor trumps return consideration Jul 23, 2021 10:39 AM IST

    LIC Saral Pension: Low annuity rates, but trust factor trumps return consideration

    All features and clauses of the pension product are the same across insurers, but the annuity rates are left to the companies

  • LIC Disinvestment | Centre likely to sell stake in two stages, avoid disrupting market: Report Jul 23, 2021 09:24 AM IST

    LIC Disinvestment | Centre likely to sell stake in two stages, avoid disrupting market: Report

    Fears are that the estimated size of the LIC IPO could “crowd out private insurance companies from the equity market, hampering economic growth”

  • Exclusive | Privatisation of general insurer, 2 banks unlikely to be completed this fiscal Jul 19, 2021 07:50 PM IST

    Exclusive | Privatisation of general insurer, 2 banks unlikely to be completed this fiscal

    The Centre is confident of meeting the ambitious divestment target of Rs 1.75 lakh crore through share sales in Air India and other companies, including the Life Insurance Corporation IPO, which is expected to be India’s largest.

  • LIC IPO | Centre to list Life Insurance Corporation of India by Q4FY22: DIPAM Secretary Jul 14, 2021 11:25 AM IST

    LIC IPO | Centre to list Life Insurance Corporation of India by Q4FY22: DIPAM Secretary

    The Union Cabinet had recently approved disinvestment of LIC. The panel headed by finance minister Nirmala Sitharaman will decide on the size of the share sale.

  • Ahead of IPO, LIC on track to reduce NPA ratio, improve persistency Jul 13, 2021 10:44 AM IST

    Ahead of IPO, LIC on track to reduce NPA ratio, improve persistency

    A three-pronged strategy is being adopted by LIC, the country's largest insurer. It includes improving persistency, reducing its NPA ratio in the debt portfolio as well as planned exits of non-core assets like the IDBI Bank.

  • CCEA clears LIC disinvestment; panel headed by FM to decide quantum of stake sale Jul 12, 2021 09:34 PM IST

    CCEA clears LIC disinvestment; panel headed by FM to decide quantum of stake sale

    Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.

  • LIC IPO likely cleared by Cabinet Committee on Economic Affairs Jul 12, 2021 10:22 AM IST

    LIC IPO likely cleared by Cabinet Committee on Economic Affairs

    The government plans to list LIC by March, sources said.

  • IDBI Bank disinvestment: Govt approves 100% stake sale by Centre, LIC Jul 09, 2021 06:12 PM IST

    IDBI Bank disinvestment: Govt approves 100% stake sale by Centre, LIC

    While the Cabinet Committee on Economic Affairs has allowed the sale of the entire stake, the exact quantam will be decided as the process unfolds. The Centre and LIC together own nearly 95 percent of IDBI Bank currently.

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