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The government is considering allowing foreign direct investment (FDI) in Life Insurance Corporation of India (LIC) ahead of the mega initial public offering (IPO). The move will enable overseas investors to buy stakes in the government-owned insurance company.

ET Markets RadioTune in now for Markets news, views & cues ETMarkets Morning Podcast (ETMarkets.com) 05:01 Min | July 05, 2021, 9:10 AM IST Tune in as we tell you whats happening in the market, whats making news this morning, and look at some of the buzzing stocks. Tags Transcript Hi there, Good Morning. Welcome to ETMarkets Morning podcast, the show about money, business and markets. I am Sabari Saran. Lets start with the headlines first Analysts expect market to remain stable, see Nifty suppo...

LIC IPO: Govt likely to invite bids from merchant bankers this month SECTIONS Last Updated: Jul 04, 2021, 02:20 PM IST Share Synopsis The government is likely to invite bids from merchant bankers this month for managing LIC disinvestment as it moves ahead with plans to launch the IPO by January, an official said. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IP...

LIC IPO: Centre may invite bids from merchant bankers this month The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO LIC IPO is touted to be the biggest public issue in Indian corporate history PTI Updated Jul 04, 2021, 11:39 AM IST The government is likely to invite bids from merchant bankers this month for managing LIC disinvestment as it moves ahead wit...

Read more about Govt extends M R Kumars term as LIC chairman till March 13, 2022 on Business Standard. Kumars term as LIC chairman was supposed to end on June 30, 2021, but the center has extended his term by almost nine more months till March 13, 2022.

ISSUE DATE: March 22, 2021 UPDATED: March 15, 2021 12:48 IST Illustration by Nilanjan Das Its acronym, LIC, and its logo have been iconic symbols of financial security for Indians born before the new millennium. Even now, 290 million, or one in five, Indians are insured by the government-owned Life Insurance Corporation. It still controls 66 per cent of the country’s life insurance market even though private insurers, allowed into the fray in 1999, have now been around for over two decades. L...

Read more about Govt proposes to hike in LICs authorised capital to Rs 25,000 cr on Business Standard. The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India (LIC)

The authorised share capital of LIC shall be Rs 25,000 crore divided into 2,500 crore shares of Rs 10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956

The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India to Rs 25,000 crore to facilitate its listing slated for the next fiscal.

Currently, the paid-up capital of the life insurance company with over 29 crore policies is Rs 100 crore.