New Delhi [India], May 9 (ANI): The share allotment of Life Insurance Corporation of India (LIC) will be done on May 12 and the country's largest insurer will be listed on the stock exchanges on May 17, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Monday.

New Delhi [India], May 9 (ANI): The initial public offering (IPO) of Life Insurance Corporation of India (LIC) closed on Monday. The issue was subscribed 2.95 times, generating bids worth Rs 43,933 crore.

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 [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 [India], February 14 (ANI): The filing of a draft red herring prospectus (DRHP) by Life Insurance Corporation of India (LIC) has created a "positive buzz in the air" and the public issue will be a very positive development in the history of the country's largest insurer, Union Finance Minister Nirmala Sitharaman said on Monday.

New Delhi [India], February 1 (ANI): Life Insurance Company (LIC) will file Draft Red Hearing Prospectus for IPO with the market regulator Securities and Exchange Board of India (SEBI) within two weeks, DIPAM Secretary Tuhin Kanta Pandey said on Tuesday.

New Delhi Jan 27 PTI Tata Group on Thursday took over the ownership of national carrier Air India The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to Ms talace Pvt Ltd along with management control DIPAM Secretary Tuhin Kanta Pandey said in a tweet A new board led by the strategic partner takes charge of Air India he added In October last year Tata Group announced the winning bidder for Air India with a bid amount ofRs 18000 crore Tatas would pay Rs 2700 crore cash and takeover Rs 15300 crore of the airlines debt The Air India strategic disinvestment transaction has been completed today with Government receiving a consideration of Rs 2700 crore from the Strategic Partner Ms Talace Pvt Ltd a wholly owned subsidiary of Ms Tata Sons Pvt Ltd retaining debt of Rs 15300 crore in Air India and AIXL and transferring shares of Air India 100 per cent shares of Air India and itssubsidiary AIXL and 50 per cent shares of AISATS to the Strategic Partner the finance ministry said in a statement Tatas beat the Rs 15100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier PTI JD RAM

New Delhi Oct 29 PTI The Ministry of Railways has decided to withdraw its decision on sharing of convenience fee earned by IRCTC on online bookings of train tickets DIPAM Secretary said on Friday Ministry of Railways has decided to withdraw the decision on IRCTC convenience fee DIPAM Secretary Tuhin Kanta Pandey tweeted The Indian Railways Catering and Transportation Corporation IRCTC on Thursday said that the Ministry of Railways has asked it to share 50 per cent of its revenue earned as convenience fee from bookings on its website with the national transporter Convenience fees charged from customers generated a sizable revenue for IRCTC The fee is not part of the rail fare It is for the service of online ticket booking offered by the IRCTC Shares of IRCTC on Friday tanked nearly 10 per cent in opening trade to Rs 82240 apiece It recovered some ground after the government decided to withdraw its decision on IRCTC convenience fee and was trading at 88735 down 289 per cent on the BSE IRCTC listed on the stock exchanges on October 14 2019 at Rs 644 a piece after selling shares atRs320 apiece in an initial public offering PTI JD DRR DRR