Life Insurance Corporation

Looking back at the new life insurance business for the fiscal that went by FY22 Emkay Global said even though unit linked insurance policy (ULIP) made a strong comeback during the first nine months logging about 50 per cent growth in retail annual premium equivalent (APE) the category witnessed slowed down materially in the last quarter. The ULIP growth for the year was 33 per cent.

It received bids for 46.77 crore equity shares against IPO size of 16.2 crore equity shares. The portion set aside for policyholders has been subscribed 5.97 times, employees bid 4.31 times the allotted quota, and retail investors 1.94 times, while the reserved portion of qualified institutional buyers has booked 2.83 times and that of non-institutional investors 2.8 times, as per reports.

The issue opened for subscription on Wednesday (May 4) and continues to see strong interest from all investor categories. The portion reserved for eligible policy holders was subscribed 5.04 times, reservation for eligible employees was subscribed 3.79 times, retail category was subscribed 1.59 times, the non-institutional category witnessed subscription of 1.24 times, and qualified institutional buyers category saw subscription of 0.67 times.

The issue opened for subscription on May 4 and continues to see strong interest from all investor categories. The portion reserved for eligible policy holders was subscribed 4.67 times, reservation for eligible employees was subscribed 3.54 times, retail category was subscribed 1.46 times, the non-institutional category witnessed subscription of 1.08 times and the qualified institutional buyers category saw subscription of 0.67 times.

The issue opened for subscription on Wednesday, and continues to see a strong interest from all investor categories. The portion reserved for eligible policy holders was subscribed 4.01 times, reservation for eligible employees was subscribed 3.06 times, retail category was subscribed 1.23 times, the non-institutional investor (NII) category witnessed subscription of 0.76 times, and qualified institutional buyers (QIB) category saw subscription of 0.56 times.

It received bids for 16.48 crore equity shares against offer size of 16.2 crore equity shares, reports said. The portion alloted for policyholders portion has been subscribed 3.07 times, employees 2.2 times, and retail investors subscribed 92 per cent, while QIBs at 40 per cent. The long-awaited Initial Public Offering (IPO) for the LIC will remain open for subscription till May 9.

It will, in turn, boost its capacity to generate and grow capital internally. "We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO. We believe the presence of foreign stakeholders will bring particular benefits in the areas of capital adequacy, financial flexibility and governance standards, enhancing LIC's credit profile," Moody's said.

The LIC policyholders led the initial share of buying in the insurance major's IPO as they subscribed 1.99 times the portion reserved for them. The LIC employees' reserved portion has been subscribed 117 per cent, while the retail investors' portion has been subscribed 60 per cent, as per reports.

The long-awaited Initial Public Offering (IPO) for the LIC will remain open to subscription till May 9. The government has brought down the issue size from 5 per cent to 3.5 per cent. It will be a landmark public issue in the history of the Indian capital market and is poised to be India's biggest IPO till date.

SBI Mutual Fund reportedly invested around Rs 1,007 crore, becoming the largest investor in the anchor book quota.The insurance major mobilised a total of Rs 5,627 crore from anchor investors on Monday. An anchor investor in an IPO is a qualified institutional buyer (QIB) which invests before the IPO is made available to the public, as per market regulator SEBI's regulations, in order to instill confidence among investors.