Photo: First Post
Tata Motors Technologies Unit Files For IPO
Tata Technologies, a unit of Indian carmaker Tata Motors filed for an initial public offering (IPO), confirmed Tata Motors said in an exchange filing. On March 9, the automobile company said they will not offer any of the 95.7 million shares, representing around 23.6% of its paid-up share capital, to be sold in the IPO. Furthermore,has a 74.69% stake in Tata Tech, will sell up to 81.1 million shares.
Tags: TATA Motors, Tata Technologies, IPO, Shares, INDIAN MARKET
Courtesy: Reuters
Photo: Money Control
LIC IPO Subscribed 2.9 Times, Receives Bids For Over 47 Crore Equity Shares
After the last day bidding, Life Insurance Corporation's Initial Public Offering (IPO) has been subscribed 2.9 times, on May 9. Reportedly, bids have been received for over 47 crore equity shares, against the 16.2 crore equity shares offered for sale. Notably, policyholders bought shares for a discount of Rs 60 per equity share, while the discount was Rs 45 per equity share for retail investors and employees.
Tags: LIC, IPO, Equity shares, Company Law, Shareholder
Courtesy: ANI
Photo: News18
LIC Raises Crores From Anchor Investors
Insurance giant LIC has raised Rs 5,000 crores from anchor investors. This comes ahead of its IPO. The LIC has allotted around 59.3 million shares to as many as 123 investors at the price of Rs 949 each. Domestic investors like SBI Mutual Fund, ICICI Prudential, Kotak Mahindra Life Insurance, Bajaj Allianz General Insurance and others have expressed interest in the LIC.
Tags: business, LIC, IPO, Insurance, Investment
Courtesy: Money Control
Photo: News18
LIC Announces IPO Launch Date, Timelines & More
At the LIC press conference held today, the company's IPO launch date, timelines, etc, were finalised. The much-anticipated IPO of the insurance giant would finally open on May 2. Based upon the demand and subscription, the government may choose to raise the stake offer to 5%. If that happens, the state's coffer would attain Rs 30,000 crores from the sale of the equity.
Tags: LIC, IPO, Launch, business, Insurance
Courtesy: NDTV
Photo: News18
Centre Tweaks FEMA To Permit 20% FDI In LIC
The Central Government has tweaked the Foreign Exchange Management Act (FEMA) rules to allow as much as 20% foreign direct investment (FDI) in the LIC. The government is mulling over plans to dilute its stake in the insurance company via the Initial Public Offering (IPO). Earlier in February this year, the LIC had filed the Draft Red Herring Prospectus (DRHP) before the Sebi for the Initial Public Offering.
Tags: Economy, LIC, IPO, SEBI, business
Courtesy: Zee News
Photo: News18
LIC Likely To File Revised IPO Papers Soon
After a meeting slated for this week, the Life Insurance Corporation (LIC) board would finalize its results for the Fiscal Year 2022. The insurer is expected to file a revised public offer document this coming week and listing would be done by 12th May. Furthermore, the results, once approved, would be sent to the Insurance Regulatory and Development Authority of India (IRDAI), following which the revised document would be filed.
Tags: IPO, Life Insurance Corporation, Life insurance, business, Inflation
Courtesy: The Economic Times
Photo: India.com
Life Insurance Corporation To Soon Open Largest IPO In India; Get Details Here
Indian government's Life Insurance Corporation (LIC) will sell 5% of its stake in 316.25 million shares, in the initial public offering. In addition, The company could become India’s most valuable listed company after listing on the stock exchanges. Also, policyholders and employees may get a discount compared to the price offered to the public. Notably, LIC possesses a total equity base of 6.32 billion shares.
Tags: business, India, LIC, SEBI, IPO
Courtesy: The Indian Express
Startup Ecom Express To Issue Fresh IPO Worth Rs 2,160 Cr
Logistic startup of India, Ecom Express, is set to have pre-IPO worth Rs 4,860 crore, including Rs 2,160 fresh offer for sale public. Besides this, the existing share holders will also put shares worth Rs 2,700 for sale. Recently, the digital logistic company of Delhi, issued offers for pre IPO, aiming to raise funds worth $1.5 billion. Founded in 2012, the company operates in 2,400 towns across India.
Tags: Startup, Logistic company, Delhi, Investment, IPO
Courtesy: Inc42
Photo: The Financial Express
Indian Brand 'Boat' To Raise Rs 2,000 Crore Through IPO
Audio Electronic Brand 'Boat', will file a draft red herring prospectus for raising Rs 2,000 crore IPO, this week. As per reports, the company is eyeing a valuation of $1.5-2 billion ahead of the IPO launch. Warburg Pincus, the single largest shareholder in Boat with around 36% stake, will offload shares worth Rs 700-800 crore in the IPO. Notably, the company is expected to double its revenue by March 2022.
Tags: India, electronic brand, boat, IPO, Warburg Pincus
Courtesy: The Economic Times
Photo: Edelweiss
Govt Likely To Defer LIC's IPO For Next Financial Year
The government may defer the announcement of Life Insurance Corporation's (LIC) initial public offering (IPO) in the current financial year ending March 2022. Reportedly, there are lots of preparatory work pending and the valuation of the state-owned life insurer will also take more time. Following the valuation, regulatory processes will start so it is unlikely that the IPO will take before the year ends, reported Business Today… read-more
Tags: LIC, IPO, FY22, SEBI, IRDAI
Courtesy: Business Today
