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Government likely to take a call on timing of LIC IPO within this week

The government is likely to take a call on the timing of LIC initial public offering within this week, a senior official said. The sale of 5 per cent stake or 31.6 crore shares in the country's largest insurer was originally planned for in March, but was postponed in view of the geopolitical tension. The government has time till May 12 to launch the IPO without filing fresh papers with markets regulator Sebi. The official said it would be a tough call to decide whether to go ahead with the retail and domestic investor demand or to wait for geopolitical tension to ease and FIIs to return to market. "A decision on timing the IPO would be taken this week," the official told PTI. LIC's embedded value, which is a measure of the consolidated shareholders' value in an insurance company, was pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors. There were estimates made in certain quarters that LIC's market valuation would be about

For LIC IPO, govt may ask regulators to ease new norms on investments

May ask Sebi and RBI for relaxing rules regarding anchor lock-in, Rs 1-crore cap on IPO financing

LIC's first-year premium grew by 7.92% to Rs 1.99 trillion in FY22

The market share of LIC stood at 63.25% in total first year premium for financial year 2021-22

New business premium income of insurance cos up 13% at Rs 3.14 trn in FY22

Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal

IDBI Bank seeks shareholders' nod for 10-fold hike in MD & CEO salary

Private lender IDBI Bank has proposed a nearly 10-fold hike in the salary of its managing director and CEO Rakesh Sharma who had been instrumental in bringing the bank out of the RBI's restrictive prompt corrective action (PCA) framework. The bank has sought the approval of its shareholders through a postal ballot which started on April 6 and will end on May 5, 2022, to pass the ordinary resolution, among others. The lender, in which LIC holds a majority stake, will declare the results of the postal ballot on or before May 7, 2022. Members' permission is also sought to re-appoint Sharma as the MD & CEO for another three years with effect from March 19, 2022. The bank proposes for approval of the members to transact special business through postal ballot only by way of voting through electronic means, to consider and, if thought fit, to pass as ordinary resolution for re-appointment of Rakesh Sharma as a non-rotational director and Managing Director & Chief Executive Officer ..

Govt shortlists up to 60 anchor investors for LIC's share sale

Price discovery estimates insurer's value at around Rs 7 trillion

Centre unlikely to dilute stake in LIC for at least 2 years after IPO

The move is to woo investors, avoid pressure on stock

Govt considers seeking Rs 50,000 cr in mega LIC IPO next month: Report

The government is discussing selling as much as a 7% stake in LIC through the listing, say people with knowledge of the matter

LIC IPO: Govt may increase allotment size to align offer with Sebi's rules

The market regulator has approved LIC's updated draft red herring prospectus (DRHP), paving the way for the Centre to file the red herring prospectus (RHP) for India's biggest IPO.

IPOs and buybacks go missing from 2021-22 disinvestment drive

The number of buybacks dropped from seven in FY21 to just one in FY22.

After 2021 boom, how 2022 could be a year of reckoning for Indian startups

After the boom of 2021, when 44 Indian startups became unicorns, the markets are more selective and investors less enthusiastic in participating at unrealistic valuations

LIC IPO: Too 'precious' to lower face value of India's crown jewel

LIC management can decide on stock split after listing

LIC may need to be revalued if the listing is pushed beyond May

The government is hopeful of bringing out India's largest IPO before May

Govt has time till May 12 for LIC IPO without seeking fresh Sebi approval

The government has time till May 12 to launch the initial public offering (IPO) of LIC without filing fresh papers with market regulator Sebi, an official said

LIC net surges to Rs 234 cr in Q3FY22 due to change in surplus distribution

In the same period last financial year, LIC's net profit totaled Rs 0.91 crore

YES Bank looks to raise up to Rs 10,000 crore equity capital

There were reports that private equity groups such as Carlyle and Advent International are looking at a significant investment in the bank

Reliance Nippon Life's Sunil Agrawal named CFO of LIC ahead of mega IPO

Prior to Agrawal's appointment, Shubhangi Sanjay Soman was executive director, finance and accounting. The position of Executive director F&A has been changed to CFO as LIC gets set to list

SBI Life, HDFC Life shares jump on reports of likely delay in LIC IPO

SBI Life shares settled 5.7 per cent higher at Rs 1,120, whereas HDFC Life 7.0 per cent up at Rs 560

Cabinet likely to consider proposal for FDI in IPO-bound LIC on Saturday

The initial public offering of over 31.6 crore shares or 5 per cent government stake is likely to hit D-street in March

Rakesh Sharma reappointed as MD&CEO of IDBI Bank for a period of 3 years

Rakesh Sharma's reappointment as the MD&CEO of IDBI bank has received the banking regulator, Reserve Bank of India's (RBI) nod.