Mumbai Apr 27 PTI Countrys largest life insurer LIC on Wednesday set the price band at Rs 902-949 per share for its Rs 21000 crore initial public offering IPO which will open for subscription on May 4 At the upper end of the price band the government will garner around Rs 21000 crore With this IPO which is through an offer-for-sale OFS route the government is looking to divest its 35 per cent stake in the insurer by selling 2213 crore shares Speaking on the occasion Department of Investment and Public Asset Management DIPAM Secretary Tuhin Kanta Pandey said listing of LIC is part of the long-term strategic vision of the government and will highly enhance the value of the corporation in the long-run This LIC IPO is right sized considering the capital market environment and will not crowd out capital supply given the current market environment Pandey said here on Wednesday Even after the reduced size of about Rs 20557 crore LIC IPO is going to be the biggest initial public offering ever in the country he said In February the government had planned to sell a 5 per cent stake in the company The decision to list now has taken into account the combination of multiple factors including market demand stabilizing market conditions reducing volatility domestic flows and the corporations financial performance he said Pandey said the market is undoubtedly benefiting from strong structural tailwind given concerns in other markets The market has recovered from temporary shock due to global geopolitical events seen earlier In the IPO the retail investors and eligible employees will get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per equity share The issue will open for subscription on May 4 and to close on May 9 The bid lot for the issue would be 15 PTI HV BEN DRR

New Delhi Dec 23 PTI Two men were arrested for allegedly abducting an eatery owners relative in northwest Delhis Shalimar Bagh area police said on ThursdayThey have been identified as Dushyant alias Harsh 26 and Vishal 24 residents of Badli village here They are cab drivers police said The eatery owner complained to the police that two parties -- two people on a motorcycle and three others in a car -- picked up a fight with each other at his outlet over parking on Tuesday night Though both parties left the place in sometime the three men in car arrived back at the eatery about an hour later and demanded details about the men on the motorcycle from the eatery owner When he refused to entertain them they forcefully took away his 28-year-old cousin police said The accused allegedly released the man after robbing him of Rs 10000 cash and another Rs 15000 that they forcefully withdrew from his ATM card Deputy Commissioner of Police northwest Usha Rangnani said the car was registered with a cab aggregator and that the vehicle has been seizedA mobile phone and Rs 21000 were recovered from their possession she said Efforts to nab the other accused are on the DCP said PTI NIT NIT CJ CJ

Mumbai Dec 17 PTI The Shiv Senas opposition to the proposed Jaitapur nuclear plant in Ratnagiri district is politically motivated as the project will increase Maharashtras revenue by Rs 21000 crore once it commences state BJP unit chief Chandrakant Patil said on Friday On Thursday Union Minister Jitendra Singh had told Parliament that the Centre had given in principle approval for the project site to set up six nuclear reactors of 1650 MW each It seems Senas opposition to Jaitapur nuclear power plant is politically motivated I dont see any policy stand there In fact Maharashtras annual revenue would increase by Rs 21000 crore once the project commences Patil told PTI As per my information it is a Rs 3 lakh crore project And once it is operational 50000 jobs will be created Why are political parties opposing it and denying job opportunities to locals he asked Maharashtra PWD minister and Congress leader Ashok Chavan on Friday said consent of the local people was important for setting up the nuclear plant In a statement Chavan said the local population is of the view that the project will adversely affect the environment as well as mango and cashew plantations The Congress which is part of the ruling MVA alliance in the state will stand by the local people Chavan added BJPs Patil also lashed out at the Uddhav Thackeray government for the distress caused to farmers due to lack of relief after cyclones in the last two years PTI ND MR BNM BNM BNM

Ahmedabad Sep 27 PTI Two persons were arrested on Monday and mephedrone a banned drug worth Rs 26 lakh was seized from them in Gujarats Banaskantha district a police official said A team of the Special Operations Group SOG nabbed the two persons from Banaskanthas Palanpur city located about 150 km from Ahmedabad while they were on way to Rajasthan from here in a private bus he said Acting on a tip-off the SOG team searched the bus and apprehended the two accused Gorkharam Jat and Jogaram Jat both hailing from Barmer in Rajasthan and seized 260 gm of the contraband worth Rs 26 lakh from their possession the official said Mephedrone also known as meow meow or MD is a synthetic stimulant The accused have been booked under provisions of the Narcotic Drugs and Psychotropic Substances NDPS Act the official said Last week in the single largest heroin haul in India authorities seized around 3000 kg of the drug believed to be from Afghanistan and worth abour Rs 21000 crore in the global market from two containers at the Mundra port in Gujarats Kutch district officials earlier said PTI COR KA GK GK