Government of India (GoI) raised around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its India IPO. As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP), a 66.2% market share in terms of new business premium (NBP), a 74.6% market share in terms of number of individual policies issued, and a 81.1% market share in terms of number of group policies issued for FY21. We have covered various aspe...
Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO. As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP), a 66.2% market share in terms of new business premium (NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for FY21, as well as ...
Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO. This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target. As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP), a 66.2% market share in terms of new business premium (NBP), a 74.6% market share i...
Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO. This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target. As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP), a 66.2% market share in terms of new business premium (NBP), a 74.6% market share i...
Government of India (GoI) is now said to be looking to raise around US$6-7bn via selling a 6-7% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO. The deal will be run by Kotak, Axis, BofA, Citi, Nomura, GS, ISec, JM Fin, JPM, SBI Caps. As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP), a 66.2% market share in terms of new business premium (NBP), a 74.6% market share in terms of number of individua...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
On 1st of Feb 2020, the Indian finance minister announced the government of India’s (GOI’s) intention to list LIC before the end of the next financial year, i.e. before Mar 2021. This will be the biggest IPO in India, ever, and upon listing it will become one of the largest, if not the largest, listed companies in India. It’s still early days for the listing, and as always there is a high likelihood of missing the listing deadline. Nonetheless, the ball has been set rolling and thus, th...
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