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
SEBI Provides Market Approval For IPO To LIC India
Life Insurance Corporation Of India (LIC) finally gets their Initial Public Offer (IPO) approval from the Securities and Exchange Board of India (SEBI). This is fastest market approval given for IPO, in just 22 days, after the filing of the IPO draft by LIC. With this, LIC is going to put forward 31.62 crore equity shares under offer for sale (OFS) holding 5% of LIC equity shares.
Tags: LIC, Market regulator, SEBI, Life insurance, Life Insurance Corporation
Courtesy: ANI
Cyril Amarchand Mangaldas To Be The New Legal Advisor Of LIC IPO
The Department of Investment and Public Asset Management (DIPAM) has selected Cyril Amarchand Mangaldas for the role of legal advisor in IPO offer of LIC on September 26. Following the applications rolled out on July 15, the decision was made after four law firms showed interest. Firms including Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co presented their ideas to the board.
Tags: Life insurance, LIC, DIPAM, IPOs, GOLDMAN SACHS
Courtesy: Mint
India Might Consider Blocking China's Investment In LIC's IPO, As Per Sources
After a series of political tensions between India and China, the Government of India might be considering blocking China from investing in LIC's IPO. Life Insurance Corporation is a crucial financial institution of the country and it is believed that investment intervention from China might pose a risk to the security of the data. Reportedly, the Finance Ministry is looking out for options to prevent China from buying a stakeout.
Tags: Life insurance, INDIA CHINA BORDER ISSUE, india china face off, FINANCE MINISTRY
Courtesy: The Times Of India
IRDAI Urges Insurers To Be Transparent In Health Insurance Claims
The insurance regulator IRDAI has instructed insurance companies to be more transparent and furnishes details in cases of denied claims. Laying stress on the policyholders of life insurance schemes, the regulator, under the new circular on 'Health Insurance Claim Settlement,' urged the companies to provide updates about cashless claims when needed. Besides, asking companies to avoid rejecting claims based on "presumptions and conjectures", … read-more
Tags: Life insurance, India, health care, Insurance, IRDAI
Courtesy: The Economic Times