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LIC IPO likely after Oct; BPCL, Air India disinvestment by Sept: govt official The government has introduced the legislative amendments required for disinvestment of a stake in LIC India and IDBI Bank through the Finance Bill, 2021 presented along with the Budget on Monday, says DIPAM Secretary Tuhin Kanta Pandey BusinessToday.In | February 2, 2021 | Updated 19:58 IST LIC IPO is expected to be rolled out after October this year The highly anticipated IPO of insurance behemoth Life Insurance Co...

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October FOLLOW US ON: The initial public offering (IPO) of Indias largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the governments divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise Rs 1.75 lakh crore from the asset sale to finance projects aimed at r...

Reviving the economy through capital spending should be top priority in Budget FY22; fiscal consolidation will have to wait

January 7, 2021 Consulting Firms Ask Asset Managers to Disclose Diversity Data Verus and others have formed a diversity coalition as institutional pressure grows for greater racial equity.  More than one dozen consulting firms are forming a diversity coalition amid greater calls for progress toward racial equity at the asset manager level.  The group, calling itself the Institutional Investing Diversity Cooperative (IIDC), stewards more than $4 trillion in assets and is seeking more transpare...

IRFC The dedicated financing arm of the Indian Railways, Indian Railway Finance Corporation (IRFC) initial public offering of about ₹4,600 crore may hit the markets in January 2021, a first by a NBFC in the public sector. The company’s management earlier revealed that it plans to utilise the funds mopped up from the offer. Amitabh Banerjee, Chairman and Managing Director, IRFC said that 10% of the issuance would go to the company’s balance sheet and that will increase its net worth, and f...

FinMin appoints Milliman Advisors for valuing LIC pre-IPO SECTIONS Share Synopsis The firm was chosen from three in the race including EY Actuarial Services and Willis Towers Watson Actuarial Advisory. Getty Images The government had invited interest for the appointment of an actuarial firm to determine the embedded value of LIC of India, taking the next step towards the public listing of the country’s largest public insurer. Related NSE Explore Now Milliman Advisors LLP India has been select...

Sizzling US stock markets await next leg of record IPO run in 2021 The rush looks set to continue, with an array of companies already preparing for market debuts in the new year (Bloomberg) . Updated: 31 Dec 2020, 06:21 PM IST Bloomberg Around $180 billion was raised from IPOs on US exchanges in 2020, more than double last year’s total Instead of jetting between cities to meet investors, executives and their advisers have been able pitch to potential shareholders via conference calls Share...

LIC IPO: Govt appoints Milliman Advisors to determine embedded value of the insurer December 31, 2020 An Indian Embedded Value is a measure of the consolidated value of shareholders’ interest in the life insurance business. The Government on Thursday took one more step towards Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC) by appointing Reporting Actuary. “Government has selected Milliman Advisors LLP India as the Reporting Actuary for the Embedded Value of LIC,�...

Synopsis Nifty50 climbed for the fifth session on Thursday and closed above the 13,700 mark, a day after breaking out of a crucial resistance level. Shutterstock.com India 10-year bond yield edged 0.13 per cent higher at 5.95 after trading in 5.93-5.95 range. Domestic stocks look set to open on a firm note on Friday, tracking record closing for US stocks in overnight trade, in hopes of passing a US stimulus package amid rising jobless claims in the worlds largest economy. Here’s breaking down...

Synopsis EY Actuarial Services, Milliman Advisors and Willis Towers Watson actuarial advisory are in race for being appointed as the actuarial firm for the process of public listing of Life Insurance Corporation of India. Agencies The reporting actuary will have to determine the IEV comprising adjusted net worth and value of in-force business as of March 31, 2021, and for the previous period as of March 31, 2020. New Delhi: EY Actuarial Services, Milliman Advisors and Willis Towers Watson act...