Tag: LIC

LIC Housing Finance Q2 net profit down 69% to Rs 247.86 crore on higher provisioning for bad loans

Mortgage lender LIC Housing Finance Ltd (LICHFL) on Thursday reported a 68.66 percent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher provisioning for non-performing loans. It had posted a profit after tax of Rs 790.90 crore in the corresponding quarter of the previous fiscal. “The profit got hit […]

Life insurance industry at risk of sharply rising rates: IMF

The life insurance industry is at risk if there is a sharp rise in bond yields, with an extreme situation potentially causing insurers to liquidate investments reaching $1 trillion in the United States and Europe, the International Monetary Fund warned on Tuesday. Vulnerabilities have increased for life insurers, the IMF said in its Global Financial Stability Report, […]

Air India sale kicks off major privatisation drive, next up LIC listing, says official

The sale of national carrier Air India to conglomerate Tatas has opened the way for faster privatization of state firms and the government is on track to list Life Insurance Corporation (LIC) early next year, a top government official said on Tuesday. Tuhin Kanta Pandey, spearheading the drive to sell state enterprises or shut them down, said the government hoped […]

LIC to file draft IPO papers with Sebi next month

New Delhi: Country’s largest insurer LIC is likely to file draft papers with Sebi by November for the largest IPO in country’s history, a finance ministry official has said. “We target to bring the IPO within this fiscal and we have set strict timelines. The DRHP would be filed by November,” the official told PTI. The government […]

Here are 5 key things to know about LIC’s IPO

Market participants are looking forward to the initial public offering of Life Insurance Corp of India as it is part of the government’s mega divestment plan. The government is looking to dilute as much as 10% stake in LIC. According to Motilal Oswal, LIC has assets under management of around Rs 31 lakh crore. LIC is the […]

Govt invites bids for second time from law firms for LIC IPO

The government has for the second time invited bids from law firms to advise it on the mega initial public offering of LIC. On July 15, the government had floated a request for proposal (RFP) inviting bids from reputed legal advisors and the last date for bidding was August 6. However, the RFP did not […]

Govt mulls allowing foreign direct investment in Life Insurance Corp IPO

The government is mulling allowing foreign direct investment (FDI) in the country’s largest insurer LIC, a move which would help overseas investors take part in the company’s proposed mega IPO, sources said. The proposal is under discussion between the Department of Financial Services and the Department of Investment and Public Asset Management (DIPAM). “Discussions have been […]

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