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LIC IPO: किसको मिलेगा कितना डिस्काउंट? #Shorts



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LIC IPO: A $17 billion loss puts LIC IPO among top Asia wealth losers | India Business News


An eye-popping $17 billion wipeout in market value has made Life Insurance Corp of India one of the biggest wealth destroyers among Asia’s initial public offerings this year.
Having plunged 29% since its May 17 debut, India’s biggest ever IPO now ranks second in terms of market capitalization loss since listing, according to data compiled by Bloomberg. The drop puts it just behind South Korea’s LG Energy Solution Ltd., which saw a more than 30% peak-to-trough decline in its share price after an initial spike on debut.

Almost a month after listing, LIC’s $2.7 billion IPO has turned out to be one of Asia’s biggest new stock flops this year, as rising interest rates and inflation levels globally hurt demand for share sales and with India’s stock market facing unprecedented selling pressure by foreigners. The benchmark S&P BSE Sensex is down more than 9% this year.

LIC’s shares are poised to fall for a 10th consecutive session, slipping as much as 5.6% Monday after a mandatory lock-up period for anchor investors ended Friday. The rout has worried the government, with officials saying the company’s management will “look into all these aspects and will raise shareholders’ value.”
LIC’s long-delayed IPO was dubbed India’s “Aramco moment” in reference to Gulf oil giant Saudi Arabian Oil Co.’s $29.4 billion listing in 2019, the world’s largest. It was part of Prime Minister Narendra Modi’s plans to expand the nation’s capital markets. The share sale, which was oversubscribed by nearly three times, was aimed at narrowing the government’s budget deficit after spending increased during the pandemic.
More pain could be ahead for the stock given its lackluster quarterly results, according to Avinash Gorakshakar, head of research with discount brokerage Profitmart Securities Pvt. “The management’s communication with investors is confusing. They haven’t held an analyst call after the results,” he said. “So there is no clarity on how the company is planning to grow, what is going to be its strategy.”





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LIC IPO apply or avoid | Details of LIC IPO | LIC IPO Review in hindi | #licipo #licipolatestnews



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Stock Market LIVE Updates: Sensex gains 1,300 points, Nifty above 16,200; LIC trades at Rs 882/share on BSE


The company’s weak listing can be attributed to high volatility in the markets and negative market sentiments. LIC enjoys many competitive advantages like strong brand value, extremely large scale of operations, a huge network of agents, and an envious distribution network, further, the company’s issue was priced at a price to embedded value of 1.1x, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing. Those who applied for listing gains can maintain a stop loss of Rs. 800. New investors can take advantage of the dips to accumulate this share for the long term. We would like to add that the company’s further downside will be limited due to low float post listing.

Parth Nyati, founder, Tradingo





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LIC lists at 8.11% discount at Rs 872 per share on the NSE


NEW DELHI: Insurance behemonth Life Insurance Corporation of India saw a modest stock market debut on Tuesday when it listed at Rs 872, on the NSE, down 8.11% from its issue price of Rs 949 amid uncertain investor sentiment. Its shares debuted at 8.6 per cent discount at Rs 867 apiece on the BSE, a tad lower than the discounted value at which shares were offered to policyholders and retail investors.
What should investors do?
Analysts, however suggest investors, who got the allotment during its initial public offer, should hold the stock from a long-term perspective as LIC is the largest asset manager in India with AUM of Rs 40.1 lakh crore on a standalone basis as at December 31, 2021. Moreover, it has a dominant position in the underpenetrated life insurance market with improving the financialization of savings. Experts also said that the discounted listing is an opportunity to buy the stock at cheaper levels for those who didn’t get the allotment or didn’t apply to the IPO.
“The company’s weak listing can be attributed to high volatility in the markets and negative market sentiments. LIC enjoys many competitive advantages like strong brand value, extremely large scale of operations, a huge network of agents, and an envious distribution network, further, the company’s issue was priced at a Price to Embedded value of 1.1x, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing. Those who applied for listing gains can maintain a stop loss of Rs. 800. New investors can take advantage of the dips to accumulate this share for the long term. We would like to add that the company’s further downside will be limited due to low float post listing,” said Parth Nyati, Founder, Tradingo.
“The current market is not conducive for primary issues and LIC being the largest IPO has witnessed a negative listing, the current market volatility has weighed down on the insurance titan’s listing. However, the prospects for the insurance industry in India are good due to the under penetration of insurance and a long runway of growth; hence LIC will be the beneficiary in the long term. Those who applied for listing gains can maintain a stop loss of Rs. 800. New investors can take advantage of the dips to accumulate this share for the long term. Another point to note has that, LIC didn’t pay any dividends in the last financial year, so there are high chances that the company might declare a good dividend this year, thus making it a good dividend play,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“LIC shares listed at discount of nearly 9% on Tuesday, and currently trading at Rs 901. In the bidding process policyholders and retail investors were given a discount of Rs 60 and Rs 45 per share, respectively. One who has invested for the long term can hold the position as the insurance business is long-term in nature. In the short term we may see some correction ahead of the market volatility. Those who missed can buy on dips for the long term only,” said Akhilesh Jat, analyst at CapitalVia Global Research.
The listing comes at a time when the stock markets are volatile amid inflation at an eight-year high and rising interest rates.
“Due to increased inflation statistics, FII {foreign institutional investment} outflows, currency weakness, geopolitical and rate hike-related worries, markets are experiencing extraordinary volatility which has caused sell-offs in equity markets all over the world,” said Aayush Agrawal, senior analyst at Swastika Investmart Ltd.
The IPO – India’s largest ever initial share sale, was open for subscription between May 4 and May 9. It was subscribed nearly 3 times, led by strong demand from the insurer’s policyholders and employees. About 70% of the insurance major’s anchor book was subscribed by domestic mutual funds.
We are recommending buying with a medium- to long-term perspective on an at-par listing, as valuation multiple of price-to-embedded value of 1.1 times on historic basis is attractive.” said Geetanjali Kedia, senior research analyst at SPTulsian.com.
Brokerage Macquarie has initiated coverage on the stock with a ‘neutral’ rating. The foreign brokerage has suggested a target for LIC at Rs 1,000, which hints at a modest 5.37 per cent upside over the issue price of Rs 949.
The brokerage said any investor, who is taking exposure to LIC, is indirectly taking exposure to equity markets and the inherent volatility that comes with it. It added that a 10 percent correction in the domestic equity market could lead to 7 percent fall in the embedded value of the state-run life insurer as against a 1-2 percent impact for private sector life insurers
Macquarie Securities’ analyst Suresh Ganapathy noted that LIC has consistently lost market share in the individual business owing to lack of product diversification and excessive focus on single-premium and group business.
The government had planned to list LIC in March this year but had to defer it as market conditions were not favourable in the wake of the Ukraine conflict.
The offering is seen as being important to India meeting its ambitious target for selling off state assets. The debut performance will also set the mood for forthcoming issues after retail investors were badly burnt by India’s recent large IPOs.
LIC offered a discount to employees and retail investors of 45 rupees per share, while policyholders were given a discount of 60 rupees per share. The shares were allotted to the successful shareholders on May 12 at the upper end of the Rs 902-to-Rs 949 price band.
The Indian IPO market, which saw dizzying growth in 2021, has had a significant slowdown this year. This shows the impact of geopolitical tensions, stock market volatility, a price correction in over-valued stocks from recent IPOs, plus concerns about rising commodity and energy prices, and slower economic growth, EY said in a report on Monday. However, if market conditions improve there could be a robust pipeline of IPOs this year as more than 20 companies have filed draft prospectuses in first quarter of this year, said Sandip Khetan, Partner and Financial Accounting Advisory Services Leader, EY India.
With inputs from Reuters
Watch LIC IPO debuts on stock market, LIC Share falls 6% on listing





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Faith of millions of small investors put to test with LIC debut


NEW DELHI: Millions of Indians investing in the country’s biggest listing could turn sour on the equity market if the stock follows the poor performance of its state-run predecessors.
Prime Minister Narendra Modi’s government raised $2.7 billion by selling shares in Life Insurance Corporation of India, including to millions of families nationwide that hold LIC policies. The stock starts trading Tuesday at a time when markets worldwide are being roiled by the fallout of Russia’s invasion of Ukraine and rising interest rates.
While deep-pocketed global funds can withstand volatility, small investors — especially first-time shareholders such as the ones created by by LIC’s listing — risk being burned if the stock underperforms. Of the 21 Indian state-run companies that debuted in the stock market since 2010, half are still trading below their issue price.
“The mood could turn sour if the market price falls,” said Amitabh Dubey, a political analyst at research company TS Lombard. “The government could face criticism.”
Headquartered in Mumbai, LIC is a household name in India, with 2,000 branches, more than 100,000 employees and 286 million policies. The 65-year-old firm has almost $500 billion in assets, 250 million policy holders and makes up almost two-thirds of the market.
“The emotional argument of LIC being a behemoth and its brand value need to be turned into profitability for retail investors,” said Subhash Chandra Garg, a former top bureaucrat at the Finance Ministry in the Modi government.
LIC’s offer was oversubscribed by nearly three times, with policyholders placing bids for over six times and the employee portion receiving orders for four times the shares reserved for them. While the anchor portion of the IPO drew in sovereign funds from Norway and Singapore, most of the shares went to domestic mutual funds.
Funds from IPO will be critical to bolstering government finances and meeting a deficit target of 6.4% of gross domestic product for the fiscal year that began April 1. The funds could also be used to give tax relief on fuel to individuals, who are struggling with inflation at an eight-year high.
LIC’s debut, which is expected to bolster Modi’s image as a reformer and energize other privatization plans, comes when capital-market activity has significantly slowed amid weakness in global equity markets. Foreigners have pulled out a record almost $25 billion from local stocks since the start of October. The benchmark S&P BSE sensex capped a fifth straight weekly loss on Friday, the longest run of declines since April 2020.
Modi’s popularity is unlikely to be impacted if LIC shares slide, while his Bharatiya Janata Party faces no substantial opposition and has won several key states. “The government’s popularity and image will be unscathed” as the fractured opposition can’t challenge the narrative that a listing will make LIC efficient and profitable, said Akshay Dhume, professor at the department of economics in Alliance University, Bengaluru.
A spokesperson for the prime minister’s office didn’t respond to requests for comment.
Smaller investors are expected to ride out any early price swoon, which is likely given that the so-called “gray market” is indicating that shares may slip 30 rupees from their IPO price of 949.
The bigger test will be how LIC stock performs over a longer period, which may be a disappointment if earlier state IPOs are any indication, including Coal India Ltd., General Insurance Corp. and New India Assurance Co. Ltd. GIC and New India Assurance, the two state-run insurers that were listed in 2017, have been the worst performers, trading about 75% below their IPO prices.
The tide has also turned for recently-listed companies. The S&P BSE IPO Index, a gauge of newly listed shares, has fallen nearly 26% so far this year. The country’s biggest IPO until LIC, Paytm, is the index’s worst performer, down 75% since its highly anticipated float in November.





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LIC IPO Review and details explained in hindi. India’s largest-ever IPO of LIC of India is set to go live soon with its public issue. We’ll discuss LIC IPO latest news, launch date, price band, valuation, IPO review, analysis, etc. in this video.

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LIC sets IPO issue price at Rs 949 apiece


NEW DELHI: India raised 205.6 billion rupees ($2.7 billion) as its biggest ever initial public offering priced at the top of the range following strong demand from local investors and a last-minute dash by foreign funds.
Life Insurance Corporation of India shares have been priced at 949 rupees each, the state-run firm said in a prospectus filed Friday. LIC shares were offered at 902 rupees to 949 rupees apiece. Trading on the stock exchange is due to begin May 17.
Dubbed India’s “Aramco moment” in reference to Gulf oil giant Saudi Arabian Oil Co.’s $29.4 billion listing in 2019 — the world’s largest — the float of LIC has ended up resembling the Aramco IPO not just in scale but in its reliance on domestic investors after some foreign buyers deemed it too expensive. Foreign institutional investors stepped up their bids for the sale in the last hours before the close of subscription this week, shunning currency risks and global market uncertainties.
Biggest IPOs of the Year | Life Insurance Corporation of India (LIC) could land in the top five
Besides smashing India’s record as the country’s biggest IPO, LIC’s offering is also the world’s fourth-biggest this year, according to data compiled by Bloomberg. LIC’s debut comes at a time when capital-market activities have significantly slowed globally as the war in Ukraine stokes market volatility and saps investor appetite.
Shares of LIC are trading at a discount of about 30 rupees to its IPO price in the so-called gray market, traders told Bloomberg News. The expectation for a strong debut by LIC’s shares is waning as the demand in the unregulated market, where investors bet on listing day gains, has come down over the last few days.

Retail investors and LIC policyholders were among the most enthusiastic for the offering, thanks to the discounts they were offered. The portion reserved for them was fully taken up days before the offering was closed. The anchor portion of the IPO drew in sovereign funds from Norway and Singapore while other foreign investors picked up pace only on the last day.
Overall, the LIC offer was oversubscribed by nearly three times. The money will help the government bridge a budget deficit that’s expected to widen as commodity prices soar across the world.
For the banks working on the IPO, the share sale might not give them large fees but offers glory in the league table rankings, Bloomberg News has reported. The 10 banks on the IPO received a total 118 million rupees as fees, according to the prospectus, a fraction of what they could have typically pocketed for an offering of this size.





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Supreme Court refuses to stay LIC IPO, to hear plea against dilution of govt’s shares


The central government on Thursday opposed a batch of petitions filed in the top court against the LIC’s IPO.

Additional Solicitor General of India appearing for the central government said this is one of the biggest IPOs in the history of India.

HIGHLIGHTS

  • The decision was taken by Justices DY Chandrachud, Surya Kant and PS Narasimha
  • Additional Solicitor General of India was appearing for the central government
  • Pleas against passing the decision to sell LIC IPO by the government through a Money bill

The Supreme Court on Thursday refused to stay the ongoing process of the initial public offering (IPO) of Life Insurance Corporation of India (LIC). This means there will be no intervention in the share allotment process which is being done.

However, the apex court agreed to hear the challenge to the dilution of the government’s shares and petitions against LIC’s IPO.

The Supreme Court stated that no case for grant of interim relief was made out. The Centre or LIC needs to reply on the matter within eight weeks and a response from petitioners four weeks after that, the top court said. These proceedings will be tagged with issue before the Constitutional Bench.

PLEA AGAINST LIC IPO

The decision was taken by a bench of Justices DY Chandrachud, Surya Kant and PS Narasimha who were hearing a batch of petitions filed in the top court against the LIC’s IPO.

The petitioners challenged the legality of the government’s move to pass the decision to launch the LIC’s IPO through a Money bill.

Additional Solicitor General of India appearing for the central government said this is one of the biggest IPOs in the history of India. More than 73 lakh applicants were involved and 22.13 crores shares have been sold at premium of Rs 939 per share.

Meanwhile, senior advocate Shyam Divan argued for petitioners that the legality of passing the decision to sell LIC IPO by the government through a Money bill also needs consideration. It could not have been passed as a money bill since the rights of public are involved, he said.

ALSO READ | Sedition law on hold: Top 5 things Supreme Court said in order



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LIC IPO Latest Update | India’s Largest IPO | Zaroor apply karna ! #shorts #ipo #licipo #sidpatil



LIC ipo latest updates. India’s largest ipo news.

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