LIC IPO Press Meet Live: Where to watch the LIC IPO Live press conference
LIC IPO Press Meet Live: DIPAM secy Tuhin Kanta Pandey: We expect strong retail participation in the issue. We expect strong retail participation in the issue.
LIC IPO Press Meet Live: Even after reduced size, LIC will be largest IPO, says DIPAM secy Tuhin Kanta Pandey
LIC IPO Press Meet Live: Price band, issue size; check details here
IPO open from May 4-9
Band Rs 902-949/share
Anchor Quota on May 2
Issue size of Rs 20,557 cr
Rs 60 discount for policyholders
For retail & employees, discount of Rs 40
LIC IPO Press Meet Live: The much awaited LIC IPO will finally be open from May 4-9 with 3.5% of the equity on offer for subscription & discounts for policyholders and retail investors.
LIC IPO Press Meet Live: The LIC IPO Press conference begins
LIC IPO Press Meet Live: All you need to know about the LIC IPO
The LIC press conference will begin shortly. Here’s all you need to know about the LIC IPO
- The price band for the LIC IPO has been set at Rs 902 to Rs 949.
- India now expects to raise up to $ 2.74 billion from selling a 3.5 percent stake in LIC, a third of the original expectations and a billion short of the original projection.
- At the new rate, the government could raise $ 2.61 billion at the lower end of the price band.
- LIC valuation is now at close to Rs 6 lakh crore, from the earlier Rs 17 lakh crore expected.
- LIC IPO is set to open on May 2 for anchor investors and for subscription on May 4, and close on May 9.
- Employees and retail investors will be given a Rs 45/share discount, while LIC policyholders will get Rs 60/share discount.
- Besides policyholders and shareholders, the remaining shares will be allocated thus: 50 percent for qualified institutional buyers (QIBs), 35 percent for retail buyers and 15 percent for non-institutional investors. Of the 50 percent QIB allocation, 60 percent will be reserved for anchor investors.
- There will be no green shoe option in the IPO.
- Roadshows for prospective investors and analysts across Ahmedabad, Bengaluru, Kolkata, Mumbai, New Delhi and Rajkot will end by this week. Sources told Reuters that online roadshows for investors in other regions will continue.
LIC IPO Press Meet Live: LIC IPO is quite cheap at current valuation, we may apply: Samir Arora of Helios Capital
Samir Arora, Founder & Fund Manager, Helios Capital, thinks that the market hasn’t discounted the macros yet and inflation, coronavirus along with the Russia-Ukraine war still remain an issue. In an interview to CNBC-TV18 on April 26, Arora also talked about the banking space, LIC IPO and the new-age technology firms. Read more here
LIC IPO Press Meet Live: LIC conference to be begin shortly. Also Follow our LIVE blog for the latest updates Markets
LIC IPO Press Meet Live: Waning demand for LIC IPO highlights fiscal challenges for Modi
India’s decision to go ahead with a much-reduced target for its vaunted life insurer’s initial public offering, as skittish investors continue to pull money from the South Asian nation, is adding to the risks threatening the nation’s fiscal deficit target. Life Insurance Corporation of India’s board on Saturday approved selling a 3.5% stake for about 210 billion rupees ($ 2.8 billion), far lower than the 500 billion rupees estimated before Russia invaded Ukraine. Anchor investors had been reluctant to commit as the war eroded demand for equities, according to people with knowledge of the matter, with foreign funds withdrawing more than $ 16 billion from Indian stocks this year. Prime Minister Narendra Modi needs inflows because crude oil prices — one of India’s largest imports — have surged. Costs have risen so much that it’s becoming unsustainable for the administration to keep charging taxes on fuel that have been key to bridging a budget deficit. Leaving pump prices high risks stoking inflation and potential social unrest that is already roiling neighboring nations as the region emerges from the pandemic. “I am absolutely grateful to the people of India,” Finance Minister Nirmala Sitharaman said in an interview in Washington last week, while outlining some of her government’s welfare programs. “Unless the people are going to stand up and say ‘right, we have to survive this,’ it’s not going to be easy.” Read more here
LIC IPO Press Meet Live: LIC eighth largest life insurer globally in terms of total assets
LIC is the eighth largest life insurer globally in terms of total assets. As of fiscal 2021, it holds around $ 507.33 billion in total assets. Currently, China’s Ping An Insurance is the largest insurer in terms of total assets, followed by Germany’s Allianz SE and France-based AXA SA. As of December 2020, Ping An Insurance holds around $ 1.38 trillion in total assets, while Allianz SE and AXA SA have $ 1.27 trillion and $ 965.51 billion, respectively. US-based Metlife Inc, Japan’s Nippon Life Insurance, Britain’s Aviva PLC and China Life Insurance Co have total assets of $ 795.15 billion, $ 705 billion, $ 657.34 billion and $ 616.29 billion, respectively.
LIC IPO Press Meet Live: LIC to become fifth most-valued listed firm in India
Life Insurance Corp Of India (LIC) will become the country’s fifth most-valued listed firm, with a market cap of over Rs 6 trillion, according to calculations by Moneycontrol. Globally, it will rank 186th in terms of market cap. Earlier, CNBC TV18 reported that the price band for the initial public offering of LIC has been set at Rs 902 to Rs 949. On the upper band of the share price, the firm will be valued at Rs 6.01 trillion. Reliance Industries Ltd is the most valued firm with a market cap of Rs 18.23 trillion followed by Tata Consultancy Services Ltd (Rs13.12 trillion), HDFC Bank Ltd (Rs 7.58 trillion) and Infosys Ltd (Rs 6.57 trillion).
