Page 10 - Lic

Govt floats Request for Proposal to appoint intermediaries for mega LIC IPO

Merchant bankers, and registrar and share transfer agents will have to submit their bids by August 5

Top headlines: Govt floats RFP for LIC IPO; Covid scare for Team India

Business Standard brings you the top stories of the day

Govt invites bids from merchant bankers, legal advisors for LIC IPO

The last date for putting in bids is August 6, as per a notice issued by DIPAM

LIC IPO gets Cabinet nod; decision on issue size soon by FM-led panel

The government is targeting the launch of LIC's IPO in the last quarter of the financial year as it is yet to derive the embedded value of the insurer.

Top Headlines: Paytm president quits; commodity inflation bites hard

Business Standard brings to you the top headlines on Saturday

IPO-bound LIC chairman M R Kumar to complete his term: Govt official

The government has abolished the position of chairman at the insurer, and will have a CEO and MD

Centre, LIC to offload part or full IDBI Bank stake in one go: DIPAM

Any person holding less than 25% of shares in a company can make an open offer provided that it is for a minimum of 26%

LIC's holding in IDBI Bank to be sold along with govt's stake: DIPAM

LIC's holding in IDBI Bank would be sold along with the government's stake in the lender's disinvestment, but the exact quantum of stake dilution is yet to be decided, the DIPAM has said.

IPO-bound LIC to have CEO, managing director as Centre scraps chairman post

Govt amends another rule to appoint a full-time actuary for state-owned insurance behemoth

Govt moves Irdai to allow listing of 'corporation' ahead of LIC's IPO

This comes ahead of listing of LIC as India's largest IPO

LIC IPO: Govt likely to invite bids from merchant bankers this month

The government is likely to invite bids from merchant bankers this month for managing LIC disinvestment as it moves ahead with plans to launch the IPO by January, an official said. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO, which is touted to be the biggest public issue in Indian corporate history. The official further said the Budget amendments to the LIC Act have been notified and the actuarial firm would work out the embedded value of the life insurer in the next couple of weeks. Under the embedded value method, insurance companies' present value of future profit is also included in its present net asset value (NAV). "We will invite bids for appointment of merchant bankers in the next couple of weeks, the official said, adding discussions are going on with institutional investors. "We are hoping to get regulatory approvals by November-e

Govt extends superannuation age of LIC chairman to up to 62 years

The government has extended the superannuation age of IPO-bound LIC Chairman to up to 62 years by making amendment to the Life Insurance Corporation of India (Staff) Regulations, 1960.

Easier dilution norms for large IPOs where post-listing m-cap tops Rs 1 trn

Move seen as precursor to LIC IPO; 5% minimum public shareholding compulsory on IBC relisting

Govt extends M R Kumar's term as LIC chairman till March 13, 2022

Kumar's term as LIC chairman was supposed to end on June 30, 2021, but the center has extended his term by almost nine more months till March 13, 2022.

New business premium of life insurance firms declines 5.5% in May

Private insurers' NBP jumped 14 per cent in May, while state-owned Life Insurance Corporation (LIC) reported a decline of 12.3 per cent

LIC: Govt may seek proposals from investment banks for mega IPO in June

An offering could happen as soon as March 2022, say sources

LIC's holding slips to an all-time low of 3.66 pc on profit-booking

LIC's holding across 296 companies where its holding is more than 1 per cent, slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020

IDBI Bank: A dilemma of 'parallel sales' in the Indian financial sector

A buyer of the government's stake will have to contend with simultaneous market sales by the other major shareholder, LIC

Top headlines: CWC postpones important decision; iron ore surges 10%

LIC's holding in listed companies at all-time low, BharatPe plans to disburse Rs 14,000 cr in business loans, and other top news of the day

LIC's holding in listed companies at all-time low on profit booking in Q4

Insurance behemoth LIC opted for profit-booking by selling its equity stakes in companies during the March quarter, a report said on Monday