LIC raises ₹5,627 crore from anchor investors led by domestic institutions
2 years, 7 months ago

LIC raises ₹5,627 crore from anchor investors led by domestic institutions

The Hindu  

Insurance behemoth LIC on Tuesday said it has garnered a little more than ₹5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering. Some of the prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme. As per the prospectus, out of the 22.13 crore shares offered for sale, 5.93 crore shares were reserved for anchor investors. LIC's embedded value, which is a measure of the consolidated shareholders' value in an insurance company, was pegged at about ₹5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.

Insurance Crore Ipo Lic Equity Shares  crore  institutions  led  pension  insurance  terms  value  equity  shares  investors  anchor  life  share  raises  domestic  5627  lic

History of this topic

LIC clarifies on ManipalCigna stake acquisition buzz; here’s what the insurer said
3 weeks, 5 days ago

LIC clarifies on ManipalCigna stake acquisition buzz; here’s what the insurer said

Live Mint  

Stock Market Today: Public sector insurer Life Insurance Corporation of India clarified in an exchange filing on Thursday, November 28, regarding a recent news item about a potential 50% stake acquisition in ManipalCigna Health Insurance. Business daily The Economic Times today reported that Life Insurance Corporation of India is in discussions to acquire a nearly 50% stake in ManipalCigna Health …

Explained: Why LIC share price gained nearly 4% in early trade
3 weeks, 5 days ago

Explained: Why LIC share price gained nearly 4% in early trade

India Today  

Shares of Life Insurance Corporation of India rose nearly 4% in early trade after a media report indicated that the state-owned insurer has moved closer to acquiring half of ManipalCigna Health Insurance. This potential deal would mark LIC’s entry into the growing health insurance market, diversifying its business from its core life insurance offerings. If finalised, the deal is expected …

Zinka Logistics Solution IPO: Flipkart-backed issue raises ₹501.33 crore via anchor investors ahead of public issue
1 month, 1 week ago

Zinka Logistics Solution IPO: Flipkart-backed issue raises ₹501.33 crore via anchor investors ahead of public issue

Live Mint  

Zinka Logistics Solution Limited, the operator of the BlackBuck app, a payments platform which caters to truck operators, raised ₹501.33 crore from investors in its anchor round ahead of the public issue, according to the company's BSE filing on Tuesday, November 12. The anchor investor pool in Zinka Logistics Solution's IPO includes SBI Mutual Fund, Nomura Trust, Invesco India, Bandhan …

ICICI Pru, LIC to HDFC Life: Why are insurance stocks rising? — explained
4 months, 3 weeks ago

ICICI Pru, LIC to HDFC Life: Why are insurance stocks rising? — explained

Live Mint  

Stock market news: Insurance stocks have been on an uptrend in the last week. Shares of HDFC Life Insurance Company Limited have risen around 6 percent in the last week, while LIC share price has registered around 4 percent upside in this time horizon. According to stock market experts, LIC has delivered a promising Q1FY25 business update, whereas ICICI Prudential, …

LIC shares surge over 6 per cent after Q3 net profit rises 49 per cent to Rs 9,444 crore
10 months, 2 weeks ago

LIC shares surge over 6 per cent after Q3 net profit rises 49 per cent to Rs 9,444 crore

India TV News  

Shares of Life Insurance Corporation of India rose by over 6.30 per cent to a 52-week high after the company reported a 49 per cent surge in net profit for the quarter ending December. Financial performance The public sector life insurance company reported a net profit of Rs 6,334 crore in the corresponding period of the previous year, as per …

LIC reduces stake in HDFC Asset Management Company to 7% from 9.04%
1 year ago

LIC reduces stake in HDFC Asset Management Company to 7% from 9.04%

Live Mint  

Life Insurance Corporation of India has decreased its shareholding in leading asset management firm HDFC Asset Management Company by buying additional shares via open market transactions. On Friday, LIC informed in a regulatory filing to the stock exchanges that it has decreased its shareholding in HDFC Asset Management Company from 1,93,11,744 to 1,48,44,466 equity shares. ‘’Pursuant to Regulation 30 of …

LIC shares jump 9.7%, logs biggest intraday gain since listing; here’s why
1 year, 1 month ago

LIC shares jump 9.7%, logs biggest intraday gain since listing; here’s why

Live Mint  

Shares of Life Insurance Corporation, India's largest life insurer, experienced a robust intraday surge of 9.7% during Friday's trade, hitting a 10-week high of ₹677.65 apiece and also marking the largest intraday gain since listing in May 2022. This notable upswing followed LIC's target of achieving double-digit growth in new business premiums for FY24. 2-3 more policies will be launched …

LIC share price jumps 5% after Q1 net profit swells multi-fold; should you buy?
1 year, 4 months ago

LIC share price jumps 5% after Q1 net profit swells multi-fold; should you buy?

Live Mint  

Life Insurance Corporation of India share price rallied more than 5% on Friday after the state-run insurance behemoth reported a multifold jump in its net profit for the quarter ending June 2023. LIC share price gained as much as 5.42% to ₹676.95 apiece on the BSE. Brokerage firm Motilal Oswal says LIC has the levers in place to maintain its …

Senco Gold collects over ₹121 crore from anchor investors ahead of IPO
1 year, 5 months ago

Senco Gold collects over ₹121 crore from anchor investors ahead of IPO

Live Mint  

Jewellery retail player Senco Gold Ltd on Monday said it has mobilised ₹121.5 crore from anchor investors ahead of its initial share sale. Senco Gold Limited has allotted 38,32,807 equity shares to 21 anchor investors and raised ₹ 121.50 crore ahead of company’s proposed IPO, the upper price band of ₹ 317 per equity share with face value of ₹10 …

LIC shares climb nearly 4% after Q4 earnings
1 year, 6 months ago

LIC shares climb nearly 4% after Q4 earnings

The Hindu  

Shares of LIC on May 25 climbed nearly 4% after the company posted more than five-fold jump in consolidated net profit at ₹13,191 crore for the fourth quarter ended March 2023. However, total income during the March quarter declined to ₹2,01,022 crore from ₹2,15,487 crore in the same period a year ago, LIC said in a regulatory filing on May …

LIC Q4 net profit surges over 5-fold to ₹13,191 cr
1 year, 7 months ago

LIC Q4 net profit surges over 5-fold to ₹13,191 cr

The Hindu  

Insurance behemoth LIC on Wednesday posted a more than five-fold jump in consolidated net profit to ₹13,191 crore for the fourth quarter ended March 2023. For the entire financial year 2022-23, LIC registered a multi-fold rise in net profit to ₹35,997 crore from ₹4,125 crore in the preceding financial year. Last year, the government raised ₹20,557 crore by diluting its …

LIC continues to bet big on Adani; remains in green despite share price rout
1 year, 10 months ago

LIC continues to bet big on Adani; remains in green despite share price rout

The Hindu  

Life Insurance Corporation is ploughing more money into Adani group's flagship firm as it continues to be a net gainer despite the plunge in stock prices following a short seller's fraud allegations, filings and stock market data showed. India's largest life insurer, invested about ₹300 crore in buying 9,15,748 more shares as an anchor investor in a ₹20,000 crore new …

LIC gains 4%, hits over 3-month high in subdued market
2 years ago

LIC gains 4%, hits over 3-month high in subdued market

Business Standard  

LIC gains 4%, hits over 3-month high in subdued market The government aims to appoint a private sector professional as the first chief executive of the LIC in an effort to modernise its largest insurer after a disappointing stock market debut Premium Ashishkumar Chauhan, MD and CEO of BSE, LIC Chairperson Mangalam Ramasubramanian Kumar and Tuhin Kanta Pandey, DIPAM Secretary …

IDBI Bank privatisation: Govt, LIC to sell 60.72% stake, invite bids
2 years, 2 months ago

IDBI Bank privatisation: Govt, LIC to sell 60.72% stake, invite bids

India TV News  

The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The government and LIC hold 94.72 per cent stake together in IDBI Bank. Life Insurance Corporation holds 529.41 crore shares representing 49.24 per cent stake in IDBI Bank, while the …

LIC Share Price Drops to a New Low, M-Cap Below Rs 5 Lakh Crore; Know Why
2 years, 6 months ago

LIC Share Price Drops to a New Low, M-Cap Below Rs 5 Lakh Crore; Know Why

News 18  

LIC Share Price Today: Shares of Life Insurance Corporation of India, fell for the fifth continuous session. With today’s fall, LIC has slumped 17 per cent below its issue price of Rs 949 per share in a week. Last week, brokerage firm Emkay Global Financial Services initiated coverage on LIC with a ‘hold’ rating and a target price of Rs …

LIC IPO: Investors may get shares dividend, hints insurer
2 years, 6 months ago

LIC IPO: Investors may get shares dividend, hints insurer

India Today  

Life Insurance Corporation of India will hold a meeting of its board of directors to consider and approve payment of dividends, if any, the insurance behemoth said in a BSE-filing. The country's largest insurer made a lacklustre debut on stock exchanges, listing at over 8 per cent discount after a successful initial public offering which fetched Rs 20,557 crore for …

Indian insurer LIC slides in market debut after record IPO
2 years, 7 months ago

Indian insurer LIC slides in market debut after record IPO

Al Jazeera  

LIC’s weak debut comes even as stocks in India and the broader Asian market rallied on Tuesday. India’s biggest insurer and largest domestic financial investor was trading at 887 rupees as of late morning, giving it a market value of about 5.6 trillion rupees and making it the country’s fifth-biggest company. Fintech firm Paytm plunged in its debut last November …

LIC IPO: Retail portion subscribed fully on day three
2 years, 7 months ago

LIC IPO: Retail portion subscribed fully on day three

India TV News  

Highlights LIC IPO is going to be the biggest initial public offering ever in the country The government is diluting its 3.5 per cent stake in the insurance behemoth The government aims to generate about Rs 21,000 crore from the offer The initial public offering of the insurance behemoth Life Insurance Corporation was subscribed fully in the first hour of …

LIC IPO: You can now apply for subscription during weekend
2 years, 7 months ago

LIC IPO: You can now apply for subscription during weekend

India Today  

Willing investors can now apply for Life Insurance Corporation of India's initial public offering even during the weekend. Meanwhile, the Reserve Bank of India has also stated that all Application Supported by Blocked Amount -designated bank branches would remain open for the public on Sunday to facilitate processing of applications for LIC's IPO. The Government of India, in order to …

LIC IPO: On Day 1, overall subscription at 67% | Key updates
2 years, 7 months ago

LIC IPO: On Day 1, overall subscription at 67% | Key updates

Hindustan Times  

Life Insurance Corporation's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at 67 per cent, even as a surprise rate hike by the Reserve Bank of India roiled markets. Here are top developments: >The portion set aside for policyholders was subscribed 1.99 times at the …

LIC IPO | Policyholders’ portion oversubscribed; overall subscription at 67% on day 1
2 years, 7 months ago

LIC IPO | Policyholders’ portion oversubscribed; overall subscription at 67% on day 1

The Hindu  

LIC’s public offer, the country’s biggest-ever IPO, saw the policyholders’ portion being oversubscribed on the first day itself on May 3, though overall subscription stood at 67%. The retail investors and eligible employees will get a discount of ₹45 per equity share, while policyholders will get a discount of ₹60. Retail Individual Investor category picked up nearly 50 per cent …

India’s biggest IPO opens in midst of volatile markets
2 years, 7 months ago

India’s biggest IPO opens in midst of volatile markets

Al Jazeera  

Through the IPO of state-run LIC, India expects to raise $2.7bn from the sale of a 3.5 percent stake. State-owned Life Insurance Corporation’s $2.7bn IPO, India’s largest, has opened to subscriptions from retail and other investors following strong demand from anchor investors led by domestic mutual funds. The Indian government expects to raise the sum, just a third of its …

LIC IPO: State insurer raises over Rs 5,600 crore from anchor investors
2 years, 7 months ago

LIC IPO: State insurer raises over Rs 5,600 crore from anchor investors

India Today  

The LIC IPO got off to a bumper start as the national insurer garnered around Rs 5,620 crore. Of the over 22.13 crore LIC shares on offer, over 9.88 crore shares are reserved for qualified institutional buyers and over 2.96 crore shares for non-institutional buyers. LIC's embedded value, which is a measure of the consolidated shareholder's value in an insurance …

India's biggest IPO said to get strong demand from anchor investors
2 years, 7 months ago

India's biggest IPO said to get strong demand from anchor investors

The Hindu  

The IPO of India's biggest insurer, Life Insurance Corporation, has got off to a good start, with the $732 million of shares reserved for so-called anchor investors oversubscribed at the upper end of the price range, a banking source said. The indicative price range has been set at ₹902 to ₹949 per share, with ₹56 billion of shares set aside …

LIC IPO: Full list of top initial public offerings in India
2 years, 7 months ago

LIC IPO: Full list of top initial public offerings in India

India Today  

Life Insurance Corporation of India is gearing up to launch the largest initial public offering in India's share market. PAYTM Fintech firm Paytm’s initial public offering of up to Rs 18,300 crore in November last year is still the country’s largest stock market listing, surging past miner Coal India’s massive IPO more than a decade ago. COAL INDIA In 2010, …

LIC’s Rs.21K crore IPO, India\'s largest, to open on May 4
2 years, 7 months ago

LIC’s Rs.21K crore IPO, India\'s largest, to open on May 4

Deccan Chronicle  

Mumbai: State-run insurance behemoth Life Insurance Corporation of India’s initial public offer at Rs 21,000 crores will be India’s largest IPO so far, even after the Central government brought down the stake sale on offer to 3.5 per cent from the earlier 5 per cent. Around 6.48 crore policyholders of the state-run insurance behemoth have updated their PAN to participate …

LIC fixes price band at ₹902-949 for May 4 IPO
2 years, 7 months ago

LIC fixes price band at ₹902-949 for May 4 IPO

The Hindu  

The Life Insurance Corporation of India on April 27 fixed its price band at ₹902- 949 per share for its Initial Public Offering set to open on May 4. Earlier, the government had planned to sell 5% of its stake in LIC, amounting to 31.6 crore shares, and had filed draft papers to that effect with Securities and Exchange Board …

LIC sees huge interest from anchor investors
2 years, 7 months ago

LIC sees huge interest from anchor investors

Hindustan Times  

Life Insurance Corp. of India’s upcoming initial public offering has received ₹13,000 crore worth of investment commitments from anchor investors, more than twice the value of shares offered to such investors, three people with direct knowledge of the development said. The total commitment from over 100 global and domestic investors is more than the ₹6,300 crore allotment size to anchor …

LIC IPO: Leading Sovereign Wealth, Pension Funds Show Interest; Know Details
2 years, 8 months ago

LIC IPO: Leading Sovereign Wealth, Pension Funds Show Interest; Know Details

News 18  

Leading sovereign funds, including Abu Dhabi Investment Authority, Singapore-based GIC, three Canadian pension funds and Qatar Investment Authority, have shown interest to be anchor investors in Life Insurance Corporation’s upcoming IPO, according to an ET report. The government has amended rules of the Foreign Exchange Management Act, paving the way for up to 20 per cent foreign direct investment in …

LIC IPO Listing, Price Band, Policyholder Discount; Key Details Investors Should Know
2 years, 9 months ago

LIC IPO Listing, Price Band, Policyholder Discount; Key Details Investors Should Know

News 18  

LIC IPO: The much-awaited initial public offering of the Life Insurance Corporation of India is set to be the biggest ever in India, the Reserve Bank of India said in its March Bulletin. “The LIC IPO is set to be the biggest IPO ever in India, and hence, correct timing of the IPO is crucial,” the writers said in their …

Explained | What must LIC IPO investors keep an eye on?
2 years, 10 months ago

Explained | What must LIC IPO investors keep an eye on?

The Hindu  

The story so far: The Life Insurance Corporation of India filed its draft red herring prospectus with capital markets regulator SEBI last Sunday. The main types of risks that could impact LIC and as a result shareholder returns relate to regulatory requirements, competition, the pandemic effect, the Government still retaining majority control, as well as specifics such as the segregation …

LIC IPO: Why is India’s largest insurer being listed?
2 years, 10 months ago

LIC IPO: Why is India’s largest insurer being listed?

Live Mint  

India is embarking on the blockbuster listing of the country's largest insurer as part of a wider privatisation drive to bolster public coffers drained by the coronavirus pandemic and fund new infrastructure. While the pricing has not yet been set, analysts expect the IPO of the Life Insurance Corporation of India to be India's largest to date, potentially earning the …

Stage set for historic LIC IPO! Govt files DRHP to sell 5% for ₹63,000 crore
2 years, 10 months ago

Stage set for historic LIC IPO! Govt files DRHP to sell 5% for ₹63,000 crore

Live Mint  

Setting the stage for the country's biggest-ever public offering, Life Insurance Corporation on Sunday filed draft papers with capital market regulator Sebi for the sale of a 5 per cent stake by the government for an estimated ₹63,000 crore. The initial public offering of over 31.6 crore shares or 5 per cent government stake is likely to hit the D-street …

LIC IPO: Govt to sell 5% equity via OFS, no fresh issue
2 years, 10 months ago

LIC IPO: Govt to sell 5% equity via OFS, no fresh issue

Live Mint  

The government aims to raise about ₹75,000 crore by selling a 5% stake in Life Insurance Corp. of India through India’s largest-ever initial public offering, in what is expected to test investor appetite amid a volatile market. Market spread Based on the ₹5.39 trillion embedded value worked out by actuarial firm Milliman Advisors, the government is seeking a valuation of …

LIC IPO: What Investors Must Know Before Applying for India's Biggest IPO
2 years, 10 months ago

LIC IPO: What Investors Must Know Before Applying for India's Biggest IPO

News 18  

Established in 1888, LIC has more than 29 crore policy holders. LIC IPO: The central government is all set to file the draft red herring prospectus of Life Insurance Corporation of India ’s mega initial public offering over the weekend, according to sources. LIC IPO: Record Number of Demat Accounts Expected Arijit Malakar, Head of Retail Equity Research, Ashika Group, …

LIC IPO: Govt to sell 31 crore equity shares in one of India's largest sales
2 years, 10 months ago

LIC IPO: Govt to sell 31 crore equity shares in one of India's largest sales

India TV News  

Highlights The government owns a 100 per cent stake in LIC. According to a report by rating agency Crisil, LIC is not only the world's largest when it comes to home-market share with over 64.1 per cent of the total gross written premium as of 2020 but also the one that offers the highest return on equity at 82 per …

LIC IPO Papers Likely by Month-End, Details Likely During Budget: What We Know So Far
2 years, 10 months ago

LIC IPO Papers Likely by Month-End, Details Likely During Budget: What We Know So Far

News 18  

LIC IPO: As January heads for its end, investors are likely to find the Life Insurance Corporation of India, or LIC, filing its draft red herring prospectus, or DHRP, within a few days that is by the end of the month. The LIC IPO is said to fetch Rs 15 lakh crore though its initial offer sale. According to the …

Valued at $203 billion, India readies LIC IPO, its biggest ever
2 years, 11 months ago

Valued at $203 billion, India readies LIC IPO, its biggest ever

Al Jazeera  

The upcoming listing of the country’s insurer, the state-owned crown jewel, is being looked at as India’s Aramco moment. If investors agree with the $203 billion valuation sought by the government, LIC would compete against India’s biggest companies — Reliance Industries Ltd. and Tata Consultancy Services Ltd. “The Life Insurance Corporation’s IPO is an excellent development not only for India’s …

‘Assets under management by LIC doubled in 2020-21’
2 years, 11 months ago

‘Assets under management by LIC doubled in 2020-21’

The Hindu  

The Assets Under Management of the IPO-bound Life Insurance Corporation of India more than doubled to ₹36.7 trillion on a standalone basis in FY21 from ₹16.18 trillion in the previous year, according to officials privy to presentations made to potential investors. LIC’s AUMs exceed that for the entire Indian mutual funds industry, which had AUM of approximately ₹31.4 trillion, the …

Stocks to Watch: HDFC Bank, Zee Entertainment, Piramal Enterprise, Max Healthcare and More
3 years, 2 months ago

Stocks to Watch: HDFC Bank, Zee Entertainment, Piramal Enterprise, Max Healthcare and More

News 18  

Indian markets on Thursday, tracking global cues is expected to open in the negative territory. HDFC AMC: Foreign promoter Standard Life Investments sold 1,06,50,000 equity shares in the company at Rs 2,873.79 per share, whereas T Rowe Price Emerging Markets Stock Fund acquired 15,19,557 equity shares at Rs 2,871.05 per share on the BSE, the bulk deals data showed Max …

Aptus Value Housing Finance raises ₹834 cr from anchor investors ahead of IPO
3 years, 4 months ago

Aptus Value Housing Finance raises ₹834 cr from anchor investors ahead of IPO

Live Mint  

Mumbai: Aptus Value Housing Finance India Ltd on Monday raised ₹834 crore from anchor investors, which opens for subscription on Tuesday and closes on Thursday. The company has decided to allocate 23.63 million equity shares to anchor investors at ₹353 apiece, valuing the transaction size to ₹834.02 crore, according to a circular uploaded on the BSE website. WF Asian Reconnaissance …

LIC IPO Date Update: Government plans to complete public offer of insurance giant before March 2022
3 years, 5 months ago

LIC IPO Date Update: Government plans to complete public offer of insurance giant before March 2022

India TV News  

The government plans to complete the initial public offering of Life Insurance Corporation in the current fiscal, the Minister of State for Finance Bhagwat Kishanrao Karad said on Monday. The government on Thursday had invited bids to appoint merchant bankers and legal advisors for the IPO and subsequent listing of the country's largest insurer. "The Initial Public Offer of the …

LIC IPO price band estimated at Rs 400-600 per share
3 years, 9 months ago

LIC IPO price band estimated at Rs 400-600 per share

India Today  

The price band of the Life Insurance Corporation IPO is likely to be fixed at Rs 400-600 per share, assuming Rs 25,000 crore as paid-up capital, reported Business Today. Assuming the authorised capital as the paid-up capital, the LIC would have a total share capital of 2,500 crore shares of face value Rs 10 each. Taking the two key variables …

Government paves way to take LIC to the stock exchange
3 years, 10 months ago

Government paves way to take LIC to the stock exchange

Hindustan Times  

The government on Monday paved the way for the proposed initial public offering of state-run Life Insurance Corporation. The finance minister said the Central government will hold an at least 75% in LIC for the first five years after the IPO, and subsequently retain at least a 51% stake in the insurer. Announcing the budget for fiscal 2022, finance minister …

Govt Selects Milliman Advisors to Ascertain LIC's Embedded Value Ahead of IPO
3 years, 11 months ago

Govt Selects Milliman Advisors to Ascertain LIC's Embedded Value Ahead of IPO

News 18  

The government has selected actuarial firm Milliman Advisors for ascertaining embedded value of LIC, ahead of its initial public offer. The government plans to sell minority stake in insurance behemoth Life Insurance Corporation and list it on the bourses, and has already appointed Deloitte and SBI Caps as pre-IPO transaction advisors. In a tweet, Department of Investment and Public Asset …

Finance Ministry Invites Bids from Actuarial Firms for Valuing LIC Ahead of IPO
4 years, 1 month ago

Finance Ministry Invites Bids from Actuarial Firms for Valuing LIC Ahead of IPO

News 18  

The finance ministry on Monday invited bids from actuarial firms for arriving at the embedded value of Life Insurance Corporation ahead of its stake sale. In the bid notice, the Department of Investment and Public Asset Management said LIC needs to develop an Indian Embedded Value reporting framework for necessary disclosures for the proposed Initial Public Offering. The Request for …

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