₹13 lakh cr Estimated Value Life Insurance Corp
₹51,000 cr Bonus to policyholders Paid in 2019-20
70% market share In India’s Life Cover Space
The Unfolding
1 February 2020 Government announces intention to float IPO
5 February 2020 Union stages strike against decision
7 February 2020 LIC Chairman MR Kumar clarifies stake sale is not privatisation; FM says IPO to bring in retail investors
22 August 2020 SBI Capital Markets and Deloitte Touche Tohmatsu hired as pre-IPO transaction advisors
16 November 2020 Centre floats global tender to engage an actuarial firm to estimate value* of LIC
31 December 2020 Milliman Advisors selected for calculating EV
1 February 2021 Budget proposes changes to the LIC Act
*Embedded value (EV), or consolidated value of shareholders’ interest in life insurance business
It’s saral. At 66, she would be mature enough to don a new look, and step out into the open.
LIC gets ready to go public. The Life Insurance Corporation – often a lifeline for the government in times of crunch – comes handy when the finance minister works out a ₹1.75-lakh-crore cash jab for a staggering economy. Billed to be valued at anything between ₹90,000 crore and ₹1.3 lakh crore, the maiden public issue will be the biggest in the history of the Indian capital market.
This story is from the February 2021 edition of Outlook Money.
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This story is from the February 2021 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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