Shares of the state-run insurer could be priced between Rs 2,000 rupees and Rs 2,100 each. The issue is slated to run 10-14 March if regulatory approvals are obtained in time.
Life Insurance Corporation, set for India's biggest-ever initial share sale, has a portfolio peppered with index heavyweights like Reliance Industries and ITC.
Modi govt was expected to bring legal changes in banking laws to facilitate privatisation of PSU banks, but couldn’t after a nationwide protest by bank employees' unions.
LIC IPO is supposed to be India's biggest-ever public issue. The government plans to sell anywhere between 5-10% stake in the insurer, which could fetch it around Rs 1 lakh crore.
The LIC IPO, which could raise Rs 40,000 crore-Rs 1 lakh crore this quarter, is a key item in Modi govt's economic agenda, with proceeds essential to reach a budget-deficit target.
India and Korea present 'phenomenal growth' potential next year, say analysts. Additionally, they expect a number of the largest unicorns in Southeast Asia to list'.
According to sources, the rules under the Life Insurance Corporation Act, 1956, have been amended to provide an extension to Kumar in view of the ongoing preparation for the IPO.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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