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LIC Housing Finance Ltd Related news

Govt updates LIC IPO draft papers with Q3 nos; net profit at Rs 235 cr

Govt updates LIC IPO draft papers with Q3 nos; net profit at Rs 235 cr

The government has filed updated draft papers with market regulator Sebi for an initial public offer of LIC, incorporating December quarter financials of the insurance behemoth, an official said on Monday.

In the run-up to the mega IPO, on February 13, the government had filed the draft red herring prospectus (DRHP) with the regulator giving details of financial results till September. The DRHP got Sebi approval early this month.

LIC IPO gets Sebi approval; may see delayed launch over Ukraine crisis

LIC IPO gets Sebi approval; may see delayed launch over Ukraine crisis

India’s markets regulator has approved the public listing of Life Insurance Corporation of India (LIC), sources told 'Business Standard' on Wednesday as the war in Ukraine casts a shadow over the state-owned firm’s IPO timing.

The government is looking to sell a 5 per cent stake, or 316 million shares, in the insurer through the IPO. Investment banking sources said Sebi issued the so-called final observations on Tuesday evening.

Govt may permit foreign direct investment in LIC ahead of mega IPO

Govt may permit foreign direct investment in LIC ahead of mega IPO

The government is considering allowing foreign direct investment (FDI) in Life Insurance Corporation of India (LIC) to enable overseas investors to buy stakes in the insurer.

“Discussions on structuring the increase in foreign shareholding and the ceiling are ongoing and a decision is yet to be taken,” an official said.

LIC employees protest against Centre's disinvestment proposal, oppose move

LIC employees protest against Centre's disinvestment proposal, oppose move

Life Insurance Corporation (LIC) employees on Tuesday opposed the government's proposal of disinvestment of the corporation and protested against the decision in Coimbatore.

During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite amendments in the session itself.

Coronavirus pandemic burns Rs 1.9 trillion hole in LIC's investments

Coronavirus pandemic burns Rs 1.9 trillion hole in LIC's investments

A 30 per cent drop in the S&P BSE Sensex and the Nifty 50 thus far in the calendar year 2020 (CY20) has weighed heavily on the fortunes of state-owned life insurer, Life Insurance Corporation of India (LIC), which has suffered a notional loss of about Rs 1.9 trillion in the past two-and-half months. The insurer, known for making large equity investments, has substantial holdings in many listed companies. The dent comes at a time when the government is drawing up plans of listing LIC at the bourses, subject to legislative changes and regulatory approvals.

LIC beats private firms in premiums

LIC beats private firms in premiums

State-run insurer Life Insurance Corporation of India (LIC) has registered a 41.74% growth in first-year premium collection for the April-September period of the current financial year, outperforming the combined growth rate of all private sector life insurance players put together.

Sebi partially freezes LIC's voting rights in National Stock Exchange

Sebi partially freezes LIC's voting rights in National Stock Exchange

Life Insurance Corporation of India's (LIC) acquisition of IDBI Bank has led to unintended consequences. The market regulator Securities and Exchange Board of India (Sebi) has partially frozen LIC’s voting rights in the National Stock Exchange (NSE). The reason being the 5-per cent shareholding cap on trading members. While LIC is not a trading member, following its acquisition of IDBI Bank — a trading member of NSE — it is deemed as one.

LIC Assistant Recruitment 2019: 8000 posts at licindia.in, Oct 1 last date

LIC Assistant Recruitment 2019: 8000 posts at licindia.in, Oct 1 last date

LIC recruitment 2019: The Life Insurance Corporation (LIC) of India has released the recruitment notification for 8,000 posts of LIC assistants on its official website licindia.in. LIC has invited onlineThe selection process will be based on two computer-based tests (CBT) after which they will undergo a pre-recruitment medical examination. Candidates should apply for one LIC division only as multiple applications can be rejected.

LIC pips private insurers in first-year premium growth during April-August

LIC pips private insurers in first-year premium growth during April-August

In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).

Opinion | Clarify LIC’s mandate

Opinion | Clarify LIC’s mandate

Life Insurance Corporation of India is investing another ₹4,700 crore in IDBI Bank. This will be in addition to the ₹20,000 crore that the country’s largest insurer earlier injected as part of a deal to acquire a 51% stake. IDBI would also get ₹4,557 crore from the government. With bad loans hovering at more than 29%, the bank is among the best suited candidates for capital infusion. But calling upon LIC to do so isn’t the right way to go about it.

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