LIC's Rs 21,000 Crore IPO Oversubscribed: 10 Points
- The portion set aside for policyholders was subscribed 3.92Â times, employees by 3Â times, retail investors by 1.20Â times, non-institutional investors by 0.71Â times and qualified institutional buyers by 0.55Â times.
- The LIC subscription, set to close on May 9, is offering a discount to employees and retail investors of Rs 45 per share. LIC policyholders will be offered a discount of Rs 60 per share.
- The state-insurer's mega IPO will remain open for subscription on Saturday and Sunday as well.
- For an IPO, the Rs 21,000 crore valuation would be the highest ever in the Indian market. Before this, the highest fundraise was seen in Paytm IPO last year at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.
- The country's largest insurer reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing market condition.
- LIC has been informing about the IPO for several months through various channels, including print and TV advertisements. It has also approached its policyholders through SMS and other medium to inform them about the share sale.
- Moody's Investors Service said LIC's IPO was credit-positive for India's life insurance sector.
- Demand for the IPO continued amid the interest rate hike by Reserve Bank of India and U.S. Federal Reserve.
- The insurer had garnered around Rs 5,627 crore from anchor investors ahead of the IPO.
- LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
