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.
- Jan 28, 2021 08:13 AM IST
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.
- Jan 27, 2021 02:51 PM IST
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
- Jan 19, 2021 10:08 PM IST
The new decision will be effective from the date of assumption of the charge of post or after February 1, 2021.
- Jan 07, 2021 07:11 PM IST
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.
- Jan 06, 2021 08:26 PM IST
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.
- Jan 04, 2021 11:01 AM IST
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.
- Dec 31, 2020 08:39 PM IST
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.
- 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 30, 2020 03:01 PM IST
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.
- Dec 23, 2020 09:12 AM IST
Over two dozen global and domestic investors have indicated their willingness to invest in the InvIT.
- 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
- Dec 06, 2020 06:49 PM IST
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.
- Nov 23, 2020 10:05 AM IST
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
- Nov 16, 2020 08:37 PM IST
The government has budgeted to collect Rs 2.10 lakh crore from stake sales this fiscal.
- Nov 09, 2020 09:36 PM IST
LIC beat the private life insurance industry by posting 36 percent YoY growth in new premium in October 2020
- Oct 25, 2020 10:58 AM IST
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.
- Oct 24, 2020 12:10 PM IST
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
- Oct 21, 2020 10:15 AM IST
Till date, the government has raised less than three percent of its Rs 2.1 lakh crore divestment target for the current fiscal
- Oct 20, 2020 03:05 PM IST
In this edition of the Explained series, find out how the Centre plans to meet its divestment target.
- Oct 19, 2020 01:30 PM IST
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.
- Oct 16, 2020 03:04 PM IST
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.
- Oct 13, 2020 06:00 PM IST
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
- Oct 08, 2020 03:15 PM IST
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.
- Oct 06, 2020 10:21 AM IST
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