Page 8 - Lic

Down nearly 8% at closing bell, LIC adds to poor listing scorecard of PSUs

Most large floats by the government have failed to create long-term wealth for investors

LIC debut is 2nd worst among 11 global firms that raised over $1 bn in 2022

The poor listing is set to disappoint millions of small-time investors who bid enthusiastically for the issue because of their long and emotional association with the insurer and its products

Top headlines: Airtel's Q4 net zooms 164%; WPI inflation hits 15.08% in Apr

Business Standard brings you the top headlines on Tuesday

LIC, with m-cap of Rs 5.54 trn, is fifth most valued Indian company

The country's largest insurer LIC is the fifth most valuable company in the country with a market capitalisation of about Rs 5.54 lakh crore. Life Insurance Corporation (LIC) made a tepid stock market debut on Tuesday following a mega IPO which fetched Rs 20,557 crore to the exchequer. The shares listed on stock exchanges at over 8 per cent discount over its issue price of Rs 949 apiece. Shares of LIC closed at Rs 875.45, down Rs 73.55 or 7.75 per cent over the issue price, on the BSE. At this price, LIC is valued at nearly Rs 5.54 lakh crore. The market capitalisation of LIC is higher than that of HUL (Rs 5.27 lakh crore), ICICI Bank (Rs 4.94 lakh crore), SBI (Rs 4.17 lakh crore) and HDFC (Rs 3.97 lakh crore), as per the BSE data. Reliance Industries is the most valued company with a market capitalisation of Rs 17.12 lakh crore, followed by Tata Consultancy Services (Rs 12.67 lakh crore), HDFC Bank (Rs 7.29 lakh crore) and Infosys (Rs 6.38 lakh crore). Market capitalisation is th

Long runway for growth in the insurance sector, say analysts

Insurance stocks underperformed the frontline indices on Tuesday following a faded listing of state-run giant Life Insurance Corporation.

LIC lists at 8.6% discount, stock recovers partially post weak debut

LIC has now become the fifth most valuable listed Indian company with a market capitalisation of Rs 5.72 trillion on the BSE as of 10:08 am, the exchange data shows.

LIC set for lacklustre market debut despite oversubscription: Analysts

Volatility in global markets and selling pressure in the domestic stock market are likely to cast a shadow on LIC's listing

Stocks to Watch: LIC, IndiGo, GSK Pharma, Max Health, PSUs, Bharat Forge

Stocks to Watch Today: At 7:30 am, the SGX Nifty futures were quoting at 15,890 levels, hinting at an opening gain of 40-50 odd points for the Nifty.

LIC to list on bourses today: Check share price and other details

LIC IPO closed on May 9 and shares were allocated to bidders on May 12

Top headlines: LIC to list tomorrow; Biological E slashes Corbevax prices

Business Standard brings you the top headlines on Monday

Life insurers log new business premium growth of 84% in April, led by LIC

Life insurance companies logged 84 per cent growth in their cumulative new business premium at Rs 17,940 crore in April 2022, primarily helped by LIC, Irdai data showed.

Over Rs 30,000 cr funds blocked in LIC IPO could hit other offerings

Industry players said the refund process for LIC's IPO will complete on May 13 - the same day when Delhivery IPO closes

LIC IPO fully subscribed on day 2 of opening; offer closes on May 9

Sees participation from 3.6 mn individual investors; policyholders lead

LIC's record IPO set to be fully subscribed as valuation drives demand

By Thursday, the second day of the offering, investors had already put in orders for 90% of the shares for sale in India's biggest IPO.

LIC listing to result in increased transparency of its operations: Moody's

"We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO," Moody's said.

Ambuja acquisition could be LIC's windfall; acquirer to make open offer

LIC owns 6.3 per cent stake worth Rs 4,602 crore in Ambuja Cements and 5.66 per cent stake worth Rs 2,445 crore in ACC

Positive start: LIC's mega share sale subscribed 67% on first day

Interestingly, LIC's IPO will remain open for subscription even on the weekend, given the large amount the government is looking to raise from the market

LIC IPO opens today. Should you subscribe? What brokerages suggest

While LIC policyholders are entitled to Rs 60 discount over the issue price, the retail investors will be offered the issue at a discount of Rs 45 per equity share

71% of LIC anchor allotment of 59.3 mn shares made to domestic MFs

Insurer raises Rs 5,627 cr in anchor book but overseas investors disappoint

LIC IPO: Insurers reaches out to its policyholders on eve of public offer

Ahead of its initial public offering, insurance behemoth LIC on Tuesday approached its policyholders through SMS and other medium to inform them about the share sale. The Initial Public Offering (IPO) of LIC opens for retail and institutional investors on Wednesday and will close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will also get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per share. The share sale is through an Offer-For-Sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on May 17. "LIC filed red herring prospectus(RHP) dt 26.4.22 with SEBI/Stock Exchanges for its IPO reserving shares for eligible policyholders. For details & risks in investing in LIC IPO and disclaimers, see RHP and links....," said the SMS sent by the insurer to the ...