Dipam deems situation suitable for listing
Merchant bankers have been asked to submit views of investors on LIC's valuation by as early as Monday, said an official
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.
The private sector lender will also raise up to Rs 1,000 crore via infrastructure bonds to fund projects and affordable housing.
The IPO was originally planned to be launched in March, but the Russia-Ukraine crisis has derailed the plans as stock markets are highly volatile
LIC management can decide on stock split after listing
Chief Minister Pinarayi Vijayan, who moved the resolution in the Assembly, opined that leaving the insurance giant to the interests of private players would not be beneficial to the country
The country's largest public offer has seen strong interest from investors who queued up to be part of the roadshows organised by the Centre's battery of merchant bankers.
A market volatility index for India around 15 will be a comfortable level for the government to launch the IPO, says a source
The government is hopeful of bringing out India's largest IPO before May
LIC, Delhivery, PharmEasy among deals to be keenly followed by the market
In the same period last financial year, LIC's net profit totaled Rs 0.91 crore
There are certain external factors affecting the markets because of the conflict in Europe, and the government is watching the situation carefully, the official said
In the wake of the market volatility due to the Ukraine-Russia war, there might be a rethink on the timing of the LIC share sale
Fund manager Mark Mobius says he sees more downside in equity markets amid the invasion of Ukraine. More on that in our top headlines.
LIC had over 282 million policies in force as of September 30, 2021, but policyholders tend to have more than one policy
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SBI Life shares settled 5.7 per cent higher at Rs 1,120, whereas HDFC Life 7.0 per cent up at Rs 560
'If global considerations warrant that I need to look at it (LIC IPO), I wouldn't mind looking at it again,' says FM
Russia-India defence sales face looming sanctions. More on that in our top headlines.