Page 15 - Lic

Market wrap: Sensex falls for a second day; Nifty ends below 17,900

Cabinet approves Rs 6,466-crore fund for telecom infra; LIC IPO expected by Q4, says DIPAM secretary; Go Fashion IPO sails through on first day

LIC's tepid show pulls life insurers' new business premium down 5% in Oct

Private life insurers total APE and individual APE up 19% and 23% respectively

Top headlines: Economy takes 'formal' leap, Apple's India revenue doubles

Business Standard brings the top headlines at this hour

Top Headlines: Deficit pegged at 6.8%; LIC listing reads Zomato IPO menu

Tax revenues may not narrow deficit; food, fertiliser subsidies to overshoot budget estimate. More on that story in top headlines.

Govt aims big for LIC IPO, inspired by Zomato; eyes Rs 10 trn valuation

Valuers are expected to finalise embedded value of LIC this month

Air India sale kicks off privatisation drive, next up LIC listing: Official

Tuhin Kanta Pandey, spearheading the drive to sell state enterprises or shut them down, said the government hoped to complete the valuation exercise of LIC by November-December

Ground-handling arm of Air India to be monetised first: DIPAM Secy

In a Q&A, Tuhin Kanta Pandey says govt has started initial investor outreach for the LIC IPO, and investment bankers are working on a strategy

Life insurers see impressive 22% YoY growth in new business premium in Sept

While private insurers, 23 in total, saw their NBP go up over 42%, LIC saw a 12 per cent rise

LIC IPO: Govt may not need to amend any law to permit foreign participation

Foreign participation would be allowed as per the listing norms of the Securities and Exchange Board of India (SEBI) and the extant sectoral FDI guidelines

Govt to amend rules, allow 20% foreign investment in LIC IPO: Report

Government officials are due to meet and discuss the proposal as early as Wednesday afternoon in New Delhi, says Bloomberg.

Govt push on Air India sale slows down other privatisation proposals

Next on the priority list is said to be LIC IPO

LIC to file draft IPO papers with Sebi by November, says FinMin official

Once the draft red herring prospectus (DRHP) is filed, merchant bankers will hold global and domestic road shows for investors by January, the official said

IPO-bound insurer LIC invites applications for post of CFO

The last date for submitting application is October 12, 2021, it said.

Govt shortlists four law firms to assist LIC IPO after failed first attempt

Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas will make a representation before govt on Friday

Law firms bid to work on India's LIC IPO as government sweetens terms

After the law firms showed no interest, the government revised its offer twice this month, limiting the timeline of the LIC's IPO work and offering a part payment during the IPO process, not just at t

India likely to block Chinese investment in mega LIC IPO: Report

With China after the border clashes it cannot be business as usual. The trust deficit has significantly widened, say sources

LIC's share in life insurance was dwindling, pandemic only sped the decline

India's biggest insurer is losing market share and faltering on growth like never before, as it prepares to go public through an IPO

Indian law firms reluctant to advise on mega LIC IPO: Report

LIC's huge size, complexity a deterrent and poor govt fee for law firms another dampener, say law firms

Govt seeks $109-bn valuation for LIC's mega IPO: Report

Modi govt is pushing ahead with LIC's IPO to help plug a widening budget gap as it aims to raise Rs 1.75 trillion by March through divestments

LIC IPO: Govt amends fee structure for legal advisors after failed attempt

DIPAM introduces "milestone payments" in RFP; the legal advisors were earlier supposed to get their fee "after successful and satisfactory completion of the transaction"