Representational file image. | Photo Credit: Reuters Life Insurance Corporation (LIC) on March 14 said it has elevated Tablesh Pandey, executive director of the company, as its managing director. His appointment is effective from April 1, 2023, according to a regulatory filing. Mr. Pandey will replace present managing director B.C. Patnaik, it said. LIC presently […]
Continue ReadingA view of IDBI bank | Photo Credit: G. Ramakrishna The deadline to submit preliminary bids for IDBI Bank privatisation is likely to be extended by almost a month till early January, a government official said on Friday. The government and LIC together are looking to sell a 60.72 per cent stake in IDBI Bank, […]
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Life Insurance Corporation of India (LIC) logo | Photo Credit: Reuters Days ahead of the deadline to submit binding bids, LIC’s move to sell its ₹3,400 crore secured principal debt of cash-strapped Reliance Capital Ltd (RCL) to an asset reconstruction company (ARC) has irked its lenders and bidders. The last date for submitting binding bids […]
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Recently, the new IRDAI Chairman Debasish Panda had said it was time life insurers re-entered the health vertical Recently, the new IRDAI Chairman Debasish Panda had said it was time life insurers re-entered the health vertical Insurance behemoth Life Insurance Corporation (LIC) is keen to re-enter the mediclaim segment as and when the regulator provides […]
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The insurer had posted a 17% decline in Q4 consolidated net profit to ₹2,409 cr. The insurer had posted a 17% decline in Q4 consolidated net profit to ₹2,409 cr. Shares of LIC on Tuesday declined by more than 3% after the company posted a 17% decline in consolidated net profit for the fourth quarter […]
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The country’s largest insurer Life Insurance Corporation (LIC) on Tuesday listed its shares at a discount of 8.11% at ₹872 per share on the National Stock Exchange (NSE). On the Bombay Stock Exchange (BSE), the shares got listed at ₹867.20 apiece, down 8.62% over the issue price of ₹949 a share. LIC had fixed the issue price […]
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Some hurdles remain to be crossed for firms in strategic sale pipeline such as Concor, BEML, Shipping Corporation Some hurdles remain to be crossed for firms in strategic sale pipeline such as Concor, BEML, Shipping Corporation Even as the LIC IPO is expected to sail through on Monday, helping the Centre meet about a third […]
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The price band has been fixed at ₹902-949 per equity share for the issue. The price band has been fixed at ₹902-949 per equity share for the issue. LIC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps […]
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The IPO, now open for retail and institutional investors, is set to close on May 9 The IPO, now open for retail and institutional investors, is set to close on May 9 LIC public offer, the country’s biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about […]
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Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors’ (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to […]
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