Govt Plans To Increase Authorised Capital Of LIC To Rs 25,000 Crore
Starting with an initial capital of Rs 5 crore, the life insurance company now has an asset base of Rs 31,96,214.81 crore
Source: outlookindia.com
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LIC's authorised capital to be hiked to Rs 25,000 crore to facilitate listing
The authorised share capital of LIC shall be ₹25,000 crore divided into 2,500 crore shares of ₹10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956
Source: timesnownews.com
Government proposes to increase authorised capital of LIC to Rs 25,000 crore
Centre will reduce its stake to 75% from 100% through IPO
Source: telegraphindia.com
Run-up to LIC IPO: Government pushes for legislative changes to LIC Act by month-end
Run-up to LIC IPO: Government pushes for legislative changes to LIC Act by month-end March 04, 2021 IPO expected by FY22 Q3 The government is preparing the ground for the initial public offering of LIC by the third quarter of FY21-22. It is pushing for legislative approvals in the second leg of the Budget session starting March 8. “The task is not easy. Lot of work has to be done to meet the target of third quarter of FY21-22,” a senior official from DIPAM (Department of Investment and Public Asset Management) told BusinessLine. Though the government has not spelt out the quantum of disi...
Source: thehindubusinessline.com
LIC IPO update | MoS Finance says up to 10% of LIC IPO issue to be reserved for policyholders
The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, he said.
Source: timesnownews.com