Page 14 - Lic

Centre to get cracking on IDBI Bank sale once LIC IPO is launched

With LIC IPO being top priority, other plans take back seat

Investment bankers, officials in race against time to launch LIC IPO

The market regulator took average 76 days to decide on 110 DRHPs filed in the past two years

LIC IPO: Search for anchor investors begins, govt may seek higher valuation

Govt asks I-bankers to approach big investors

Top headlines: RIL to invest Rs 5.9 trn in Gujarat; BPCL gets a price tag

Business Standard brings you the top headlines on Thursday

Market wrap: Sensex ends 533 pts up; Nifty above 18,200 led by RIL, Infosys

Realty index surges over 3%; Wipro reports Q3 net profit flat at Rs 2,969 cr, declares interim dividend of Re 1; Infosys Q3 PAT rises 12% to Rs 5,809 cr, raises FY22 revenue guidance

LIVE: WHO body says Covid vaccines 'may need to be updated' for Omicron

'Composition of current Covid vaccines may need to be updated, to ensure that vaccines continue to provide WHO-recommended levels of protection against infection,' says the body of independent experts

Govt set to allow 20% foreign direct investment in LIC ahead of listing

DFS, Dipam and DPIIT have finalised the change in FDI policy

DPIIT to come out with revised FDI policy to facilitate LIC disinvestment

The matter is being discussed with the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM)

IPO-bound LIC plans more focus on ULIPs, annuity and health products

LIC looks to improve share of non-participating products

LIC's assets at $463 billion exceeds the GDP of several economies

LIC assets at $463 billion exceeds the GDP of several economies, and it is ranked 5th globally in terms of life insurance GWP and 10th globally in terms of total assets.

LIC, GIC Re and New India systemically important insurers: Irdai

Life Insurance Corporation of India; General Insurance Corporation of India; and New India Assurance Co. Ltd, are in the list of D-SIIs for the year 2021-22, it said

2022: A year of firsts for insurance space; general insurer privatisation

The government will push for privatisation of a state-owned general insurance company as well as pursue the mega initial share sale of LIC in 2022.

In pics: 2021 belonged to investors, no matter where they placed a bet

From equities to commodities and cryptocurrencies, most segments gave handsome returns. But inflation, rate tightening, and the Omicron spread have spoiled the year-end party

LIC seeks bids for consultancy services for its digital transformation

The last date for submission of bids is January 17, 2022

Top Headlines: Omicron 3x more transmissible; Rs 2 trn worth IPOs next year

Business Standard brings you the top headlines at this hour.

LIC gets central bank approval to hike stake in IndusInd Bank to 9.99%

LIC is one of the biggest institutional investors in India's stock market and has a stake in a number of private and public sector banks.

Ahead of IPO, LIC lowers net NPA to 0.05%, improves asset quality

Ahead of its proposed initial public offering (IPO), insurance behemoth LIC has improved its asset quality for the financial year ended March 2021. The non-performing assets (NPAs) as of March 31, 2021, are Rs 35,129.89 crore out of a total portfolio of Rs 4,51,303.30 crore, according to the latest Annual Report of Life Insurance Corporation of India (LIC). The sub-standard assets are Rs 254.37 crore whereas the doubtful assets are Rs 20,369.17 crore and loss assets are Rs 14,506.35 crore. An amount of Rs 34,934.97 crore is provided as per IRDAI guidelines in the books of accounts towards non-performing assets, it said. The percentage of gross NPA is 7.78 per cent while the net NPA is 0.05 per cent at the end of March 2021. This is lower than gross NPA of 8.17 per cent (as a percentage of its debt portfolio) and net NPA of 0.79 per cent in the previous year. In absolute terms, the NPA was Rs 36,694.20 crore out of a total debt of Rs 4,49,364.87 crore in 2019-20. Stress threshold

LIC asks its policyholders to update PAN details for participation in IPO

As per the proposed plan, up to 10 per cent of the LIC IPO issue size would be reserved for policyholders

LIC gets RBI's nod to increase stake in Kotak Mahindra Bank to 9.99%

According to the central bank norms, prior approval of the RBI is required to increase stake in private banks beyond 5%

LIC Mutual Fund looks to take cumulative AUM to Rs 25,000 cr by March

It hopes to double its recently launched equity fund to Rs 2,000 crore by the end of December and close the fiscal year