LIC IPO news: The valuation of LIC can be estimated at $ 261 billion, about Rs 19 lakh crore.
Its market cap of $261 billion.
After the announcement, all eyes are on LIC IPO. According to the latest report, the government may seek proposals from investment banks this month regarding this IPO. According to the Bloomberg report, in the coming few weeks, the government will send an invitation regarding this. It is believed that the decision regarding LIC IPO will be taken by March 2022.
Market experts say that this will be India’s biggest IPO. For the current financial year, the government has set a target of privatization and disinvestment at 1.75 lakh crore. This includes selling of Air India and BPCL apart from LIC IPO. According to Prakhar Sharma, India head of Jefferies India, the valuation of LIC can be estimated at $ 261 billion, about Rs 19 lakh crore. In such a situation, with the listing, LIC will become the most valuable company in the country. At present, the market cap of Reliance Industries is close to $ 199 billion.
$439 billion asset
Talking about the assets of LIC, its total assets for the financial year 2019-20 was $ 439 billion. Its market share in the life insurance sector is close to 69 percent.
Sold his entire stake in 8 companies
Life Insurance Corporation i.e. LIC is taking some big financial decisions before its IPO. LIC has sold its entire stake in 8 companies in the March quarter. LIC is the largest institutional investor in the country. Its share in the total market value of public traded companies has come down to just 3.66 per cent, the lowest level ever. This information has been given by Prime Database. Nifty rose 5 per cent in the January-March quarter, due to which LIC has booked profit on a large scale.
sold its stake in these eight companies
According to the report, LIC’s stake in these companies was 3.7 percent in the December quarter, compared to 3.88 percent in the March 2020 quarter. In June 2012, LIC’s stake in these companies was at a record high of 5 per cent. Any company in which LIC has 1 percent or more stake is available with the data agency on the basis of which this report has been prepared. Talking about the top-10 companies where LIC has reduced its stake to zero, then Central Its stake in Bank of India was 4.20 percent, which came down to zero. After that 3.56 percent stake in Hindustan Motor, 3.22 percent in Union Bank of India, 1.94 percent stake in Jyoti Structure, 1.69 percent stake in Morpen Lab, 1.66 percent in RPSG, 1.50 percent in Insecticides India and 1.50 percent stake in Dalmia Bharti Sugar which declined. has come to zero. This is a list of the biggest decline on a percentage basis.
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