Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
State-run insurance giant LIC and the government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
Equity markets may witness a gradual up-move this week with some volatility as both election and earnings season are nearing their end, analysts said, adding that global trends and trading activity of foreign investors would hold significance in dictating investors' sentiment. Benchmark indices, which had a record-breaking rally last week, would also track global oil benchmark Brent crude and the rupee-dollar trend. The monthly derivatives expiry on Thursday may also fuel volatility in markets.
Leading mortgage financier LIC Housing Finance on Monday cut its home loan rates by 75 basis points for existing customers effective from April 1.
LIC accounts for 70 per cent of the life insurance market and is also the largest domestic institutional investor in the country.
LIC will kickstart its credit card business in September 2008.
Insurer seeks leeway to invest in sub-AAA-rated companies.
The Bharatiya Janata Party on Friday filed a complaint with the Election Commission against the LIC seeking a ban on its new scheme in Bangalore, alleging it is aimed at propagating the Aadhar card and helping Nandan Nilekani who is contesting Lok Sabha elections from there.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of 1-crore individual policies for the current financial year, with first premium income of Rs 15,917-crore (Rs 159.17 billion) in the fortnight ended August 14, 2010.
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Life Insurance Corporation of India, the country largest insurer, is in talks with the government to modify its investment norms to diversify the risk.
The public sector insurance major on Friday declared a bonus of Rs 70 per Rs 1000 sum assured for whole-life plans compared with Rs 66 of the previous financial year.
Revision in the context of an ongoing global review affecting financial institutions: Moody's
Chairman of insurance giant says it has invested Rs 16,000 cr in equity till Oct.
'At the policy's maturity, the total premium is refunded.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
Life Insurance Corporation plans to forge a joint venture for foraying into Australia and New Zealand markets.
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
Immediately after Reserve Bank hiked key short-term interest rates by 0.25 per cent on Tuesday, LIC Housing Finance announced that it will raise home loan rates.
LIC, the country's largest insurer, on Friday ruled out an initial public offer to raise capital, as it has made separate provisions worth about Rs 17,000 crore (Rs 170 billion) in the last few years to meet IRDA's norms.
'Those betting against PSUs will likely be punished in this upswing.'
A major section of Life Insurance Corporation employees went on strike on Thursday to press for higher pay package even as the country's largest insurer kept its offices open.
Union Finance minister P Chidambaram on Tuesday announced enhancement of bonus for policy holders of the Life Insurance Corporation of India.
Public-sector LIC for the first time witnessed its market share slipping below 80 per cent mark in November-end 2004 as competition intensified in the life insurance market with the entry of Sahara Life.
