He is a busy man. As Chairperson of the Life Insurance Corporation of India (LIC), M.R. Kumar, 61, is preparing the insurance giant for an IPO. The public listing will make LIC one of the most valued companies in terms of market capitalisation. And Kumar, who took charge in March 2019, will leave office by March 2022, the deadline for taking LIC public. In an interaction with Business Today’s Sourav Majumdar and Anand Adhikari, Kumar talks about how the insurance giant is gearing up for the IPO, the changes expected after the listing, and the way ahead. Edited excerpts:
Q: Under your leadership, LIC will create history in its 65-year journey by listing on the stock exchanges. What will be your investment pitch?
A: We have to build a growth story. We have been growing despite competition from the private sector. We must tell investors that this is what we have done after the insurance sector opened up... how we have been holding on to market share and growing year after year. Going forward, we will do the same thing, and also differently, to add value for the shareholders. We are the world’s third best-known brand, as per a recent study. LIC is the only Indian brand featured in that study, which gave it a valuation of $24 billion. Nowhere in the world after opening up the insurance sector will you find a PSU (public sector undertaking) or government-owned entity holding on to its market share (we hold 60-70 per cent). As a PSU, we are different. We have plans to expand globally.
Q: The public listing is likely to see LIC rubbing shoulders with RIL, TCS and HDFC Bank in terms of market capitalisation. What will be the big change once you list?
Bu hikaye Business Today dergisinin December 12, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today dergisinin December 12, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS