The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore (Rs 2 billion).
The SEBI and the RBI will look into it. Let their reports come in, BJP MP Mahesh Jethmalani said.
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
LIC has proposed a consolidation of its real estate portfolio and is inviting bids from consultancy organisations.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
To make its stock market investments transparent and avoid further controversy, Life Insurance Corporation (LIC) has discontinued deals that were first negotiated over the telephone and then executed on the stock exchange platform, according to brokers familiar with the matter.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
'At the policy's maturity, the total premium is refunded.'
Mop-up misses target as big FIIs skip issue.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.
'If they are not, then the Modi government should order a JPC immediately.'
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.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
