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  • 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.

  • India likely to announce sale of IDBI Bank, stake in LIC: Sources Jan 28, 2021 08:13 AM IST

    India likely to announce sale of IDBI Bank, stake in LIC: Sources

    Finance Minister Nirmala Sitharaman's plans to divest government control of large companies such as Air India and Bharat Petroleum Corp Ltd failed to make much headway in the current fiscal year because of the pandemic.

  • Budget 2021: Government to take another shot at privatisation Jan 27, 2021 02:51 PM IST

    Budget 2021: Government to take another shot at privatisation

    The bulk of divestment proceeds in 2021-22 are expected to come from privatisation of BPCL, Air India, Concor, Shipping Corp and IPO of LIC Ltd

  • Cabinet approves Siddhartha Mohanty's appointment as LIC MD till June 2023 Jan 19, 2021 10:08 PM IST

    Cabinet approves Siddhartha Mohanty's appointment as LIC MD till June 2023

    The new decision will be effective from the date of assumption of the charge of post or after February 1, 2021.

  • LIC provides another opportunity to revive lapsed policies Jan 07, 2021 07:11 PM IST

    LIC provides another opportunity to revive lapsed policies

    Policyholders will get 20 percent late fee concession or Rs 2,000 for revival while 25 percent concession for annual premiums between Rs 1 lakh and Rs 3 lakh, it said.

  • TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore Jan 06, 2021 08:26 PM IST

    TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore

    The total amount utilised for the buyback offer — which opened on December 18, 2020 and closed on January 1, 2021 — was around Rs 16,000 crore.

  • Explained: Here’s how LIC’s valuation process will be conducted Jan 04, 2021 11:01 AM IST

    Explained: Here’s how LIC’s valuation process will be conducted

    The embedded value will be a formal step towards analysing the life insurer’s valuation. Once the valuation is declared, LIC’s exact fundraising plan through a stake sale will be made public. Considering the mammoth investments and assets that will be analysed across the 2,000 plus LIC offices in India, it is likely that the complete valuation process could take between five to seven months.

  • IDBI Federal Life Insurance renamed as Ageas Federal Life Insurance after stake sale Dec 31, 2020 08:39 PM IST

    IDBI Federal Life Insurance renamed as Ageas Federal Life Insurance after stake sale

    Post the transaction, IDBI Bank will hold 25 percent stake in the life insurer, while Ageas will hold 49 percent in the insurance arm of IDBI Bank Limited.

  • 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.

  • Ageas to acquire 23% additional stake from IDBI Bank in IDBI Federal Life Insurance Dec 30, 2020 03:01 PM IST

    Ageas to acquire 23% additional stake from IDBI Bank in IDBI Federal Life Insurance

    Post this deal, IDBI Bank will hold 25 percent stake in the life insurer, Ageas will hold 49 percent which is the maximum permissible limit under the foreign direct investment rules.

  • Over two dozen investors, including LIC and NIIF, keen to invest in InvIT: Report Dec 23, 2020 09:12 AM IST

    Over two dozen investors, including LIC and NIIF, keen to invest in InvIT: Report

    Over two dozen global and domestic investors have indicated their willingness to invest in the InvIT.

  • 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

  • Value of LIC's equity holdings rallies 40% in H1 to Rs 5.7 lakh crore Dec 06, 2020 06:49 PM IST

    Value of LIC's equity holdings rallies 40% in H1 to Rs 5.7 lakh crore

    During the first half of FY2021, value of LIC's holding surged over 40 percent, or by $22 billion to $77 billion and LIC is said to have pumped Rs 55,000 crore into the equity market since April, as against Rs 32,800 crore in the year-ago period.

  • SEBI’s proposal on minimum shareholding and delisting is a step forward Nov 23, 2020 10:05 AM IST

    SEBI’s proposal on minimum shareholding and delisting is a step forward

    The proposed changed in minimum shareholding norms will allow bigger companies to come out with smaller IPOs. The immediate beneficiary of the move will be the largest insurer in the country – Life Insurance Corporation of India

  • Finance Minister invites bids from actuarial firms for valuing LIC ahead of IPO Nov 16, 2020 08:37 PM IST

    Finance Minister invites bids from actuarial firms for valuing LIC ahead of IPO

    The government has budgeted to collect Rs 2.10 lakh crore from stake sales this fiscal.

  • Signs of good times: Life insurers see 32% growth in new premium in October; non-life insurers see green shoots Nov 09, 2020 09:36 PM IST

    Signs of good times: Life insurers see 32% growth in new premium in October; non-life insurers see green shoots

    LIC beat the private life insurance industry by posting 36 percent YoY growth in new premium in October 2020

  • LIC IPO may spill over to next fiscal Oct 25, 2020 10:58 AM IST

    LIC IPO may spill over to next fiscal

    Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the pre-IPO work of LIC is going on at four stages -- appointment of advisors for ensuring compliance, legislative amendment, LIC''s internal software changes to come out with its ''embedded value'' and appointing an actuary for vetting LIC's actuarial valuation.

  • LIC New Jeevan Shanti annuity plan: All you need to know before investing Oct 24, 2020 12:10 PM IST

    LIC New Jeevan Shanti annuity plan: All you need to know before investing

    Read on to know what the LIC New Jeevan Shanti annuity plan is all about, what are the costs and the benefits, and other details

  • Why the government is justified in giving PSUs a choice between buyback or capex Oct 21, 2020 10:15 AM IST

    Why the government is justified in giving PSUs a choice between buyback or capex

    Till date, the government has raised less than three percent of its Rs 2.1 lakh crore divestment target for the current fiscal

  • Explained | How does Centre plan to meet FY21 disinvestment target? Oct 20, 2020 03:05 PM IST

    Explained | How does Centre plan to meet FY21 disinvestment target?

    In this edition of the Explained series, find out how the Centre plans to meet its divestment target.

  • Like A Boss | LIC Chairman MR Kumar on why a ‘gentle but firm’ leadership style works, the importance of empowered decision-making, and more Oct 19, 2020 01:30 PM IST

    Like A Boss | LIC Chairman MR Kumar on why a ‘gentle but firm’ leadership style works, the importance of empowered decision-making, and more

    MR Kumar, chairman of India’s largest insurer, due for an IPO next year, on his management style, the book that influenced him and lessons in leadership.

  • Interview | RailTel, IRFC IPOs in pipeline; govt has limited bandwidth to back Air India: DIPAM secretary Tuhin Kanta Pandey Oct 16, 2020 03:04 PM IST

    Interview | RailTel, IRFC IPOs in pipeline; govt has limited bandwidth to back Air India: DIPAM secretary Tuhin Kanta Pandey

    In an exclusive interview, DIPAM Secretary Tuhin Kanta Pandey says plans for FY21 include IPOs of RailTel, IRFC Ltd and WAPCOS Ltd. and the privatisation of Nilanchal Ispat Nigam Ltd plant in Odisha, and the Salem and Bhadravathi steel plants of SAIL Ltd. Pandey also said the government is trying its best to complete the privatisation of Shipping Corp, Concor Ltd, Bharat Earth Movers Ltd and Central Electronics Ltd before March 31, 2021.

  • States willing to borrow need not wait for GST Council decision, says govt official Oct 13, 2020 06:00 PM IST

    States willing to borrow need not wait for GST Council decision, says govt official

    The Centre has not ruled out further stimulus and no decision has been taken as to whether the finance ministry will challenge the Vodafone tax verdict or not, says the top official

  • Exclusive | LIC IPO may not happen before second quarter of FY22 Oct 08, 2020 03:15 PM IST

    Exclusive | LIC IPO may not happen before second quarter of FY22

    The government is yet to appoint book running lead managers and legal advisors. An embedded value has to be decided, the insurer has to pare its stake in a number of other listed companies and has to tweak its balance sheets to comply with regulations, and the LIC Act has to be amended in Parliament.

  • LIC: The pros and cons of a foreign listing Oct 06, 2020 10:21 AM IST

    LIC: The pros and cons of a foreign listing

    With the government desperate to raise funds, the next round of dilution of LIC could be in the near future, resulting in an upward cap on any price movement

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