Mumbai (Maharashtra) [India], June 9 (ANI): Share price of Life Insurance Corporation of India (LIC) slumped to a new record low of Rs 723.70 on Thursday, which is nearly 25 per cent down from its IPO issue price of Rs 949.

New Delhi [India], May 30 (ANI): India's largest insurer Life Insurance Corporation (LIC) of India on Monday reported a consolidated net profit of Rs 2,409.39 crore for the quarter ended March 2022, down 17.41 per cent from Rs 2,917.33 crore recorded in the corresponding period of the previous year.

New Delhi [India], May 13 (ANI): Life Insurance Corporation (LIC) of India shares have been allotted to the eligible bidders of the initial public offering (IPO) at Rs 949 apiece, the upper end of the IPO price band.

Mumbai (Maharashtra) [India], May 11 (ANI): Grey market premium of Life Insurance Corporation (LIC) shares turned negative on Wednesday indicating that the company may list on the stock exchanges below its issue price.

New Delhi [India], April 27 (ANI): Life Insurance Corporation (LIC) has set its price band for the Initial Public Offer (IPO) at Rs 902 to Rs 949 per equity share. The public offer starts on May 4 and will remain open for bidders till May 9, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Wednesday.

New Delhi Apr 26 PTI Insurance giant LIC has fixed the price band at Rs 902-949 per share for the Rs 21000 crore public offer that is likely to open on May 4 sources said Life Insurance Corporation LIC would offer a Rs 60 discount for policyholders and Rs 40 for retail investors and employees The issue is likely to open for subscription on May 4 and is expected to close on May 9 and the bid lot would be 15 Anchor investors can subscribe to the shares of the insurance company on May 2 With this IPO the government would offload a 35 per cent stake in the insurance behemoth by selling 2213 crore shares LIC has reserved 221 crore shares or 10 per cent of the issue size for its policyholders while 15 lakh shares for employees sources said After policyholders and share holders reservations the remaining shares will be allocated in the ratio of 50 per cent for qualified institutional buyers QIB 35 per cent for retail investors and 15 per cent for non-institutional investors Sources said 60 per cent of the QIB portion has been reserved for anchor investors The government in February had planned to sell a 5 per cent stake or 316 crore shares in the insurance behemoth and had filed draft papers with Sebi However the IPO plans faced headwinds from the ongoing market volatility due to the Russia-Ukraine war Last week the government decided to lower the issue size to 35 per cent The government has also filed papers with Sebi seeking exemption from the 5 per cent stake sale norm sources said According to the Securities and Exchange Board of India Sebi norms companies with a valuation of over Rs 1 lakh crore have to sell a minimum 5 per cent stake in the IPO LICs embedded value which is a measure of the consolidated shareholders value in an insurance company was pegged at about Rs 54 lakh crore as of September 30 2021 by international actuarial firm Milliman Advisors Based on investor feedback the market value of government-owned LIC has been pegged at 11 times its embedded value or Rs 6 lakh crore LIC IPO would contribute a major chunk to the budgeted disinvestment proceeds in the current fiscal The government has pegged disinvestment receipts at Rs 65000 crore for the current financial year up from Rs 13531 crore raised in the last fiscal PTI JD DP MR

New Delhi Apr 26 PTI Insurance giant LIC has fixed the price band at Rs 902-949 per share for the Rs 21000 crore public offer that is likely to open on May 4 sources said According to sources Life Insurance Corporation LIC would offer a Rs 60 discount for policyholders and Rs 40 for retail investors and employees The issue is likely to open for subscription on May 4 and is expected to close on May 9 The government had in February planned to sell s 5 per cent stake or 316 crore shares of the insurance behemoth and had filed draft papers with Sebi However the IPO plans faced headwinds due to the ongoing market volatility amid the Russia-Ukraine war Last week the government decided to lower the issue size to 35 per cent PTI JD DP MR

New Delhi [India], April 6 (ANI): The Government of India, which targets to raise around Rs 60,000 crore by diluting its 5 per cent stake in Life Insurance Corporation (LIC) of India through an IPO, is unlikely to further reduce its stake in the insurer for at least the next two years.

New Delhi [India], February 19 (ANI): Data related to claims settled by Life Insurance Corporation (LIC) of India in 2021 does not imply COVID-19 deaths, the Ministry of Health and Family Welfare said on Saturday, trashing reports in a section of media on underreporting of fatality during the second wave of the pandemic.