LIC to declare Q4 results 2022 today, may consider payment of dividend

LIC board will consider and approve the audited financial results

The board of directors of the state-owned Life Insurance Corporation of India (LIC) will meet on Monday to declare the financial results for the fiscal year ended March 2022, and also consider payment of dividend, if any.

LIC, which was listed on May 17 at the bourses, said the board will consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022.

The insurance behemoth slumped in its Mumbai trading debut after a record initial public offering that priced at the top of the range.

The shares ended 7.8 per cent lower than the IPO price of Rs 949 after losing 9.4 per cent earlier. The offering raised $2.7 billion, with buyers, including sovereign funds in Norway and Singapore, and millions of small-time Indian investors.

The sale of equity in the 65-year-old behemoth, which is synonymous with insurance in India, was oversubscribed nearly three times, riding on the enthusiasm of policyholders who got a Rs 60 discount and bid multiple times for the shares on offer.

Its first-day performance makes for the second-worst debut among 11 global companies that listed this year after raising at least $1 billion through first-time share sales.