Government has already met one-third of its Rs 65,000-cr disinvestment target for this year. But legal and procedural delays with high-value companies are now posing hurdles.
Guaranteeing a 3%-4% regular dividend may make LIC investors stay put, but having to hold the shares long-term in a volatile market may make them uncomfortable.
The shares fell as much as 9.4% to Rs 860 versus their IPO price of 949, before paring about half of the losses. LIC is the fourth-largest deal among global IPOs priced this year.
LIC’s debut comes at a time when capital-market activities have significantly slowed globally as the war in Ukraine stokes market volatility and saps investor appetite.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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