The majority government-owned life insurer is now the fifth most valued company in India, behind RIL, TCS, HDFC Bank and Infosys but ahead of giants like HUL, ICICI Bank and SBI, data from BSE showed. It’s also the most valued PSU entity, ahead of SBI, ONGC and NTPC.
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Shares in Life Insurance Corp of India (LIC) slid nearly 8% in its market debut on Tuesday, a fresh setback for the state-owned giant as its record-breaking, oversubscribed IPO raised far less than expected for the government. India’s biggest insurer and largest domestic financial investor closed at Rs 875.25, compared to the IPO price of … Continue reading LIC shares tumble in market debut after record IPO
The Securities and Exchange Board of India (Sebi) on Wednesday proposed allowing companies targeting stock market initial public offerings (IPOs) to submit a confidential “pre-filing” document, in an effort aimed at safeguarding their sensitive business information.
A $2.7 billion record share sale by state-run Life Insurance Corp. is poised to be fully taken up by investors four days before the offering closes as a low valuation and deep retail discounts drive demand.
Ahead of its initial public offering (IPO), insurance behemoth LIC on Tuesday approached its policyholders through SMS and other medium to inform them about the share sale. The IPO of LIC opens for retail and institutional investors on Wednesday and will close on May 9.
The government is looking to sell a 3.5% stake in the state-owned insurance behemoth and the IPO is likely to open in the first week of May.
India is looking to raise $3.9 billion through an initial public offering of state-owned Life Insurance Corp., according to people with knowledge of the matter, about 40% lower than previous estimates as the war in Ukraine dents valuations.
The company has selected lead underwriters for an initial public offering on Tokyo’s Mothers market for startups in what will be the country’s first debut of its kind. It’s presently engaged in discussions with the Tokyo Stock Exchange, Katano said, declining to specify an estimated valuation or a timeline for the offering.
Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a US listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters.
Travel service provider Yatra Online Ltd on Monday said it has filed a draft prospectus with markets regulator Sebi for its initial public offering that includes a fresh issue of shares aggregating up to Rs 750 crore. Yatra also announced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as … Continue reading Yatra Online files IPO papers to raise Rs 750 crore
The government aims to launch its $8 billion listing of state-run Life Insurance Corporation (LIC) by mid-April, two government sources said, after delaying what will be the country’s biggest ever IPO from this month due to market volatility.
The government has tightened scrutiny of IPO-bound firms by questioning how key internal business metrics are used to arrive at valuations, unsettling bankers and companies which fear delays in listing plans, sources with direct knowledge told Reuters.
A tough start to the year for initial public offerings across Asia Pacific is getting worse as geopolitical woes emanating from Europe are adding to existing regional headwinds. The amount raised by IPOs in Asia during February was the least for any month since May 2020, at $5.1 billion. Excluding deals in mainland China, the … Continue reading War-stoked volatility brings new challenge to IPO plans in Asia
The government is open to reviewing plans for the initial public offering (IPO) of state-run Life Insurance Corp of India (LIC) this month, the finance minister said, in the wake of Russia’s invasion of Ukraine which has impacted global markets.
According to sources, the government was planning to get around 180 institutional investors on board given the size of the issue. As a result, the corporation’s investment bankers had planned for a record number of presentations in the second half of February. It is speculated that the issue will open in the second week of … Continue reading LIC continues planned IPO roadshows
Food delivery company Swiggy, which is backed by SoftBank Group, has started preparations to raise at least $800 million in an IPO early next year, the Nikkei reported on Tuesday, citing people familiar with the matter. Swiggy doubled its valuation to $10.7 billion in its latest funding round, Reuters reported last month, citing sources.
A chemicals company, which had received markets regulator Sebi’s approval to float an initial public offering (IPO), is going slow with its equity-raise plans, thanks to LIC’s forthcoming mega listing that is expected to suck out $10-billion from the system.
A public offering of shares by state-run Life Insurance Corp (LIC), set to be the country’s biggest ever at $8 billion, is expected to open for anchor investors on March 11, three sources with direct knowledge of the matter told Reuters.
Next month’s mammoth stock market debut for Life Insurance Corporation (LIC) has battered shares in other insurers as investors trim their holdings to make room for the state-owned giant, fund managers and analysts said. The flotation, potentially raising $8 billion, likely will continue to drag on LIC’s competitors for about a year and could spread … Continue reading LIC’s looming IPO weighs on insurer shares, investors say
India is pushing ahead with the nation’s largest initial public offering, a mammoth task made even tougher by inflationary concerns and a challenging global market for investors.
Life Insurance Corporation of India (LIC) has asked all its policyholders to update their permanent account number (PAN) details in their policy record by February 28 to be eligible for participating in its upcoming public issue, according to the draft red herring prospectus (DRHP).
The selloff in the market in the past few weeks has wiped out over Rs 2 lakh crore from recently listed stocks that include leading ones like One97 Communications (Paytm), FSN E-Commerce Ventures (Nykaa), Zomato, PB Fintech (PolicyBazaar) and CarTrade. However, Nazara Technologies, a gaming company that is backed by billionaire investor Rakesh Jhunjhunwala, has … Continue reading IPO listings see Rs 2 lakh crore erosion, tech startups account for half
Supply chain company Delhivery has received capital markets regulator Sebi’s approval to raise Rs 7,460 crore through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus … Continue reading Delhivery gets Sebi’s go-ahead to raise Rs 7,460 crore via IPO
Tightening rules for initial public offering (IPO), Sebi has put a cap on the usage of the issue proceeds for unidentified future acquisitions and restricted the number of shares that can be offered by significant shareholders. Also, the regulator has extended anchor investors’ lock-in period to 90 days and now, funds reserved for general corporate … Continue reading Sebi tightens rules governing utilisation of IPO proceeds
Oyo Hotels, the once hard-charging startup that struggled during the pandemic, is eyeing a valuation of about $9 billion in its initial public offering (IPO) after preliminary conversations with potential investors, according to people familiar with the matter.
From adjusting capital-markets rules to sending phone messages and publishing newspaper advertisements, authorities and executives are leaving no stone unturned in trying to ensure Life Insurance Corporation of India’s (LIC) record initial public offering (IPO) is a success.