DIPAM Secretary Tuhin Kanta Pandey on Saturday said the government has received multiple bids for a majority stake in IDBI Bank. The government currently owns a 45.48 per cent stake in IDBI Bank, while LIC owns 49.24 per cent controlling stake in the lender. Recently, the markets regulator Sebi allowed the government’s shareholding in IDBI Bank to be reclassified as …
LIC IPO Live Updates: The Life Insurance Corporation’s public issue offer, India’s biggest is finally here. With the revised price band, the government now expects to raise up to Rs 21,000 crore from selling a 3.5 per cent stake in LIC in place of the earlier 5 per cent, a third of the original expectations. The Securities and Exchange Board …
The long-awaited Initial Public Offering of insurance behemoth Life Insurance Corporation has been cleared and an official announcement is likely in the coming days. According to sources, the IPO issue size for the company whose embedded value, a measure of the consolidated shareholders’ value in an insurance company, is pegged at about Rs 5.4-lakh crore will be Rs 21,000 crore. …
Finance Minister Nirmala Sitharaman on Monday while presenting the Union Budget announced that the much awaited LIC IPO will be launched within the next financial year. Ahead of the IPO, if LIC is able to pare its stake in IDBI Bank, this would lead to unlocking of value and help increase the embedded value and consequently its valuation in the …
Federation of LIC Class-I Officers’ Associations zonal secretary K. Jones said the proposed sale of the Centre's stake in LIC was intended at privatising the public sector behemoth — the world's number one life insurer with 40 crore policyholders and assets worth about ₹30 lakh crore. Addressing media persons here on December 19, Mr. Jones said the government invited bids …
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