A 210 billion rupee ($2.7 billion) record share sale by state run Life Insurance Corp of India is poised to be fully taken up by investors four days b.
India’s electric vehicle market is expected to grow at a CAGR of 90 per cent in this decade to touch $150 billion by 2030, a report by consulting firm RBSA Advisors, released on Wednesday, stated.
ISSUE DATE: March 22, 2021
UPDATED: March 15, 2021 12:48 IST
Illustration by Nilanjan Das
Its acronym, LIC, and its logo have been iconic symbols of financial security for Indians born before the new millennium. Even now, 290 million, or one in five, Indians are insured by the government-owned Life Insurance Corporation. It still controls 66 per cent of the country’s life insurance market even though private insurers, allowed into the fray in 1999, have now been around for over two decades. LIC is a financial behemoth like no other in the country, overshadowing even the State Bank of India (SBI). It has 4,955 offices across the country, many of them occupying prime real estate. It directly employs 108,000 people, besides 1.3 million agents across the country, and has assets under management ofRs 36 lakh crore, making it a megacorp three times the size of Reliance Industries, India’s largest private sector company.
LIC IPO may not be as colossal as is being hyped. Here is why
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If LIC’s post-issue market capitalisation is estimated at Rs 8-10 lakh crore, then the issue size would have been Rs 80,000-1,00,000 crore as per the old rules, which can now come down to Rs 45,000-55,000 crore.
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NEW DELHI: As the government lays the groundwork and readies to seek parliamentary approval to amend the LIC Act and facilitate the mega IPO of insurance behemoth Life Insurance Corporation, market regulator Sebi has just effected some changes in the Securities Contracts Regulations 1957 to help fast-track the issue.
Decks have been cleared for the government to come up with the much anticipated initial public offering (IPO) of the Life Insurance Corporation of India Ltd (LIC) with SEBI easing the minimum public offer norms.The board of the Securities and .