Categories
Delhi News

Top Headlines: Deficit pegged at 6.8%; LIC listing reads Zomato IPO menu


A study says that only about half of India’s population vaccinated for Covid-19 with the first dose is willing to take the second shot. More on that story in our top headlines this morning. likely to stay at budget estimate

The is likely to stay at the budget estimate (BE) of 6.8 per cent of gross domestic product (GDP) in 2021-22, according to a senior official, because tax collection, however robust, may not be able to narrow the gap.




The estimated by the Budget is Rs 15.07 trillion. Read more

Barely 60% willing to go for second Covid-19 jab: Report

A recent study based on primary research with 3,500 citizens conducted by Boston Consulting Group’s (BCG’s) Centre of Customer Insight (CCI) shows that only about half the population (54-62 per cent) who are vaccinated with the first dose, have high willingness to take the second dose. Read more

BCCI to rake in Rs 5,000 crore from two new IPL teams

Bid price for IPL’s media and digital rights expected to double to Rs 32,694 crore in 2023

It will be raining money for the Board of Control for Cricket in India (BCCI), the country’s apex cricketing body, as two new team franchises of the Indian Premier League (IPL) go under the hammer on Monday. The new owners will be declared in Dubai by the end of day. Read more

Govt aims big for IPO, inspired by Zomato

Taking a cue from Zomato’s stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. Read more

Early bird earnings rise 24% to touch new high

India Inc’s September quarter (Q2) earnings season has gotten off to an encouraging start thanks to the large gains posted by metals and energy companies. This, however, masks the hit general manufacturers and consumer companies took on their margins as a result of higher input costs. Read more

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here

Categories
Delhi News

Govt aims big for LIC IPO, inspired by Zomato; eyes Rs 10 trn valuation


Taking a cue from Zomato’s stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more.

The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC’s proposed IPO, which will boost the Centre’s efforts to meet its disinvestment target of Rs 1.75 trillion for the current …




MONTHLY STAR

Business Standard Digital


Business Standard Digital Monthly Subscription

Complete access to the premium product

Convenient – Pay as you go

Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only

Auto renewed (subject to your card issuer’s permission)

Cancel any time in the future

Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.


Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal.
    We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action.
    Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free


Business Standard Premium Digital – 12 Months + 12 Months Free

Subscribe for 12 months and get 12 months free.

Single Seamless Sign-up to Business Standard Digital

Convenient – Once a year payment

Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI

Exclusive Invite to select Business Standard events

Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that
    industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer’s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the “Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



First Published: Mon, October 25 2021. 02:25 IST





Source link

For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here

Categories
Delhi News

Mandate creation through UPI dips in sync with muted IPO show in September



Mandate creation through Unified Payments Interface (UPI) for initial public offerings (IPO) dipped further in September amid moderation in primary market activity.


About 3.03 million mandates got created through UPI, down 48.3 per cent compared to last month, according to data released by the National Payments Corporation of India (NPCI), the umbrella entity for retail payments in India.





Last month, only five companies launched their maiden offerings, cumulatively mopping up Rs 6,887 crore.


The preceding month saw 5.86 million mandates being created, down 24 per cent month-on-month (MoM) despite August being the best-ever month in terms of mobilisation in nearly four years, with eight cumulatively raising Rs 17,841 crore, the most since November 2017.


In July, a record 7.66 million mandate creation requests were made through on the back of blockbuster IPO of food delivery firm Zomato. The of GR Infraprojects, Clean Science, and Tatva Chintan also saw huge success.


Mandate creation is when a customer blocks an amount in the bank account for an IPO application.


When it comes to mandate execution — transactions where an investor gets allotment of shares, in September, 395,400 or 13 per cent of all the mandates created through got executed. In August, more than 1.32 million mandates, or over 22 per cent of the mandates created got executed. In July, only 532,943 mandates, less than 7 per cent of the 7.66 million mandates created got executed.


Country’s largest lender State Bank of India (SBI) received the maximum mandate creation requests of 792,367 in August, followed by with 463,521, ICICI Bank with 338,109 requests, and Bank of Baroda with 288,865 requests. Also, these top four banks in terms of mandate creation requests saw 267,793 mandates executed, which constituted 67.72 per cent of the total mandates executed in September.


When it comes to the rate of decline of IPO mandates at banks, there has been considerable improvement in the past few months, especially after started publishing the monthly data on its website. In September, saw an approval rate of 88 per cent. Other public sector banks like Bank of Baroda, Bank of India, Punjab National Bank, Canara Bank, and Central Bank reported approval rates of 87.82 per cent, 93.14 per cent, 92.52 per cent, 91.80 per cent, 92.61 per cent, respectively. This is almost at par, if not better when compared to the private sector banks.


The investor frenzy, especially of retail investors, which was seen in July due to the listing of Zomato was missing in August as well as in September. Among the five companies that debuted on the exchanges, Paras Defence and Space Technologies Limited was the most successful IPO and registered the highest ever oversubscription and a record listing day gain. In August, eight companies debuted on the bourses, and in July six companies mopped up Rs 14,629 crore, with online food-delivery unicorn Zomato raising Rs 9,375 crore.


The pipeline for the rest of the year also looks strong. Go Airlines and Vijaya Diagnostic are expected to launch their offerings in the near term, while Paytm, Policy Bazaar, and Nykaa could tap the market during the latter part of the year. The government is also supposed to come with the IPO of the largest insurer in the country — Life Insurance Corporation.





Source link

For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here

Categories
Delhi News

LIC IPO news: In a 1st, LIC looks to split mega IPO into 2 offerings | India Business News


MUMBAI: The initial public offering (IPO) for life insurance behemoth LIC, through which the government is planning to mobilise about Rs 1 lakh crore, could be split into two consecutive offerings with a gap of a few months since it’s believed that the market may not have the capacity to absorb the entire issue of such mammoth size in one go.
If this plan fructifies, this will be the first of its kind move. The current Sebi rules say that promoters cannot dilute their stake to below 20% within 18 months of an IPO. It also stipulates that the promoter of a large company with a market capitalisation of Rs 1 lakh crore can take up to two years to dilute holding to 10%.

Among the options being talked about for LIC is that of cornerstone investors, marquee asset managers who could put in large funds ahead of the IPO, which is expected to be the largest in the country’s history.
Usually, government-owned companies don’t opt for any type of share placement with investors before an offer, which includes selling to cornerstone investors, pre-IPO placement to large institutions or selling part of the IPO to anchor investors a day before the issue opens.

Sources said that officials involved in the IPO process believe that with so many offers already closed and several others in the pipeline till the LIC offer comes to the market, a large amount of investors’ funds will already be absorbed.
So far in 2021, over 25 IPOs have garnered nearly Rs 70,000 crore. Paytm, the tech-enabled money transfer entity, has also filed for an IPO to mop up about Rs 16,600 crore. This would make the Paytm IPO the biggest Indian offering. Currently, Coal India’s Rs 15,475-crore IPO in 2010 is the largest.

“All the options are on the table (to make the LIC offer a success),” an official close to the transaction told TOI, without elaborating about the options. International institutions, including sovereign wealth funds and private equity funds, are seen as potential investors.
Some potential investors have reached out to get an idea of the embedded value (EV) and the EV multiple that the government is looking for in pricing.

In 2021, the Rs 9,375-crore IPO for tech-enabled food delivery services major Zomato has been the largest. The issue was subscribed over 38 times. However, the Rs 5,000-crore offer for Nuvoco Vista Copr, the cement maker run by the founders of Nirma detergent, which also happened to be the second largest IPO in 2021, struggled. It closed on August 11 with the issue subscribed just 1.7 times.
In recent times, to help the LIC offer sail through smoothly Sebi has changed some of the rules for IPOs. For example, Sebi in February said that if a company can get a post-IPO market capitalization of Rs 1 lakh crore, it could reach 10% public shareholding in two years and 25% level in five years.

Till then any company with a post-IPO market value of Rs 4,000 crore had to offer 10% of equity in the offer and reach 25% public holding in three years. The rule was perfectly in sync with the finance minister’s statement that the government will hold at least 75% in LIC up to five years post its IPO which will eventually fall to 51%.





Source link

For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here