Lic Ipo

LIC MF may consider IPO once AUM reaches Rs 1 trillion: MD RK Jha

LIC Mutual Fund might consider an IPO once its asset under management (AUM) reaches the Rs 1 lakh crore mark, which it was targeting by FY'26, a top official said on Friday. At present, LIC MF's AUM was around Rs 38,000 crore, a significant jump from Rs 16,526 crore in FY'23. "We have grown by 67 per cent in FY'24 and our current growth run rate is 30 per cent," LIC MF Asset Management Ltd MD and CEO RK Jha told PTI. He said the current equity contribution across all funds is 47 per cent, with debt accounting for the remaining 53. Institutional and corporate investors have put their money mostly in debt funds, while retail participation is skewed towards equity, he added. "We want retail or equity weightage to grow to 65-70 per cent when we hit Rs 1 lakh crore," he said, acknowledging the ambitious nature of the target with 15 months remaining. Jha said that to achieve it, LIC MF has taken several initiatives. Among them is expanding its offices by tapping the vast network of Lif

Hyundai Motor India IPO: Key details out; Check timeline, price, GMP & more

Hyundai Motor India IPO: Size, price band, lot size, key dates, GMP, objectives, and more - Everything you need to know about India's largest initial public offering

IPO fundraise thus far in 2024 third highest in primary market history

IPO pipeline for the remaining part of CY24 remains strong. 25 companies plan to raise nearly Rs 63,550 crore and have Sebi's approval

Mcap of eight of top-10 most valued firms erode by Rs 2 trn; TCS, LIC drop

The combined market valuation of eight of the top-10 most valued firms got eroded by Rs 2,01,699.77 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest laggards, in line with weak trends in equities. Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent. The market valuation of Reliance Industries tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore. The valuation of Tata Consultancy Services (TCS) slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore. State Bank of India's valuation dropped Rs 29,495.84 crore to Rs 6,98,440.13 crore and that of Bharti Airtel diminished Rs 28,379.54 crore to Rs 8,76,207.58 crore. The market capitalisation (mcap) of Infosys tanked Rs 17,061.44 crore to Rs 7,89,819.06 crore and that of Life Insurance Corporation of India (LIC) eroded by Rs 16,381.74 crore to Rs 6,57,009.14 crore. ICICI Bank's mcap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore and that of ITC was down Rs 250.11 crore to

Here is why SBI Life, HDFC Life, LIC shares rallied up to 4% on BSE today

Insurance stocks in focus: LIC has approached Irdai to increase the interest rate assumption and plan-based G-Sec assumption for the calculation of surrender value, reports say

LIC agents earn Rs 10k a month in HP, Rs 20k/month in Andaman & Nicobar

LIC agents on an average earn Rs 10,328 per month in Himachal Pradesh, the lowest among the insurer's agents in all states and UTs. According to data provided by LIC to the Finance Ministry, the average monthly income was the highest at Rs 20,446 a month for LIC agents in the Andaman & Nicobar Islands. In terms of the number of agents, Life Insurance Corporation (LIC) has the lowest number of agents at 273 in the Andaman & Nicobar Islands. Himachal Pradesh has 12,731 agents. The PSU life insurer had 13,90,920 agents across the country, according to the data. Among the larger states, Uttar Pradesh had the maximum number of LIC agents at over 1.84 lakh with an average monthly income of Rs 11,887. Maharashtra had more than 1.61 lakh LIC agents with an average monthly income of Rs 14,931. West Bengal had the third-highest number of LIC agents at 1,19,975 with an average monthly income of Rs 13,512. In Tamil Nadu, there were 87,347 agents with an average monthly income of Rs ...

Govt planning to reduce its stake in LIC by nearly 5% this fiscal: Report

Currently holding a 96.5 per cent stake in LIC, the government is considering options such as a follow-on public offer (FPO) and qualified institutions placement (QIP) to reduce its stake

LIC share at record high; m-cap hits Rs 7.56 trn post 39% rally in CY24

With today's gain, LIC's market capitalisation (m-cap) reached an all-time high of around Rs 7.56 trillion, making the life insurer the second largest listed public sector company

Mcap of 8 most-valued firms jumps Rs 1.83 trn; TCS, Infosys biggest gainers

Eight of the top-10 most valued firms together added Rs 1,83,290.36 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, in line with a rally in equities. Last week, the BSE benchmark jumped 963.87 points, or 1.21 per cent. The market valuation of TCS jumped Rs 38,894.44 crore to Rs 14,51,739.53 crore, becoming the biggest gainer among the top-10 firms. Infosys added Rs 33,320.03 crore taking its valuation to Rs 6,83,922.13 crore. The valuation of Reliance Industries climbed Rs 32,611.36 crore to Rs 21,51,562.56 crore and that of ICICI Bank zoomed Rs 23,676.78 crore to Rs 8,67,878.66 crore. The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) rallied Rs 16,950.99 crore to Rs 6,42,524.89 crore and that of Hindustan Unilever surged Rs 16,917.06 crore to Rs 5,98,487.89 crore. The mcap of ITC went up by Rs 10,924.13 crore to Rs 5,41,399.95 crore. State Bank of India's valuation climb

Emcure Pharma seeks to raise Rs 1,952 cr through IPO, issue opens July 3

Fourth largest IPO of 2024; company will use the proceeds to repay debt and for general corporate purposes

Hyundai Motor IPO: Here are the top 10 biggest IPOs in Indian history

If successful, this IPO will mark Hyundai Motor Co.'s first listing outside of South Korea

SBI Life, HDFC Life: Analysts pick top insurance stocks after May biz data

Insurance stocks to buy: In the immediate future, analysts said the revised surrender charges regulations, as and when they are announced, will be vital for growth trajectory in FY25

LIC gets 3-yr extension from Sebi to achieve 10% public shareholding

State-owned insurance giant now has to meet regulatory requirement on or before May 16, 2027

LIC stock up 5.5% as Sebi gives 3 more yrs to meet public shareholding norm

LIC news: The revised timeline for LIC to achieve 10 per cent public shareholding is on or before May 16, 2027

LIC to keep offices open on March 30, 31 to facilitate tax saving

Life Insurance Corporation will keep its offices open on March 30 and March 31 to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. The RBI had earlier this month directed banks to keep their designated branches open for government transactions up to the normal working hours on March 30 and March 31, 2024. In a statement, the public sector insurer said as per the advisory by the insurance regulator IRDAI, LIC has decided to extend this special measure to the policyholders. "It has been decided that the Offices under the jurisdiction of zones and divisions will be kept open for normal operations as per official working hours on 30.3.2024 and 31.3.2024, in order to avoid any hardship to the policyholders," LIC said in a statement.

Mcap of 6 most valued firms fall by Rs 71,414 cr; LIC, TCS biggest laggards

The combined market valuation of six of the top-10 most valued firms eroded by Rs 71,414 crore last week, with state-owned company LIC emerged as the biggest laggard. Of the top-10 most valued firms, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore. On the other hand, State Bank of India, Infosys, HDFC Bank and ICICI Bank were emerged as the gainers. They collectively added Rs 62,038.86 crore. However, in last week, the BSE benchmark climbed 831.15 points or 1.16 per cent. The market valuation of state-owned insurer LIC fell by Rs 26,217.12 crore to Rs 6,57,420.26 crore. TCS's market valuation tumbled by Rs 18,762.61 crore to Rs 14,93,980.70 crore. The market capitalisation of ITC eroded by Rs 13,539.84 crore to Rs 5,05,092.18 crore, while that of Hindustan Unilever dimnished Rs 11,548.24 crore to Rs 5,58,039.67 crore. Market valuation of Bharti A

India aims to raise up to $2.4 bn selling stakes in state-run firms

Modi's ambition of privatising state-run firms has taken a back seat due to impending elections, but his government has delivered more stake sales than any previous administration

LIC receives notification for tax refund of Rs 25,464 crore for 7 AYs

The insurer noted that it will file an appeal with the before Commissioner (Appeals) against all the tax notices

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

The capital generated through mainboard IPOs dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC's blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year. Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets. The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds. "A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework," said ...

Kellton Tech zooms 16%, hits 52-week high on inking pack with LIC

The engagement will impact over 150,000 LIC employees, empowering them with advanced HR solutions