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Tag: LIC of India

  • LIC unveils ‘Dhan Varsha’ plan. Here are particulars of protection-cum-saving scheme

    LIC Dhan Varsha plan: It affords two choices in sum assured on demise — 1.25 instances of Tabular Premium (TP) or 10 instances of TP for chosen fundamental sum assured

  • LIC IPO Live Updates: Action resumes on Day 3; complete subject subscribed 1.06 instances

    The LIC subject was subscribed 1.06 instances, NSE information at 10:15 am confirmed. The policyholders section was subscribed 3.21 instances whereas the staff portion was subscribed 2.29 instances, the info confirmed. Apart from these, the certified institutional consumers (QIBs) was subscribed 0.40 instances, the non institutional traders was subscribed 0.48 instances and the retail section was subscribed 0.97 instances, the info confirmed.

    The LIC IPO might be accessible for public subscription until Monday, May 9, 2022. The value band of LIC IPO is mounted at Rs 902-949 per share and the corporate is providing a reduction of Rs 60 per share for its policyholders and Rs 45 apiece for retail traders and LIC staff.

  • LIC IPO: Day 1, 67% booked, workers and policyholders oversubscribe quota

    The mega preliminary public providing (IPO) of Life Insurance Corporation (LIC) acquired a powerful response from traders with 67 per cent of the shares getting offered out on Wednesday, the primary day of bidding, regardless of the inventory market plunging 2.29 per cent after the Reserve Bank of India hiked rates of interest.

    LIC policyholders led the subscription checklist, with their quota subscribed 1.99 occasions (199 per cent). The portion for workers was subscribed 117 per cent. The retail traders portion, in the meantime, was subscribed 60 per cent, in accordance with inventory change information.

    While 2.21 crore shares had been allotted for policyholders, there have been bids for 4.40 crore shares. Employees bid for 18.53 lakh shares towards their quota of 15.81 lakh shares.

    The first day’s response from traders for the IPO has been sturdy regardless of the RBI’s price hike which got here after the market opened. The 1,307-point Sensex fall didn’t have an effect on the IPO a lot, analysts stated.

    Non-institutional traders subscribed 27 per cent of their portion whereas certified institutional patrons (QIBs) purchased 33 per cent of their allotted quota of three.95 crore shares. QIBs usually put of their bids on the final day of the IPO, funding bankers stated.

    Overall, there have been bids for 10.86 crore shares as towards the overall IPO measurement of 16.20 crore shares on the primary day, exchanges stated. The concern will shut on May 9.

    The company has priced the IPO within the vary of Rs 902-949 per share. It has supplied a reduction of Rs 60 for policyholders and Rs 45 for retail traders and workers. The measurement of the IPO was lower from Rs 65,000 crore to Rs 21,000 crore because the Russian invasion of Ukraine and sustained promoting by overseas traders despatched the inventory markets right into a tailspin.

    Domestic mutual funds invested Rs 4,002.27 crore, accounting for 71.12 per cent of the overall anchor ebook portion of the IPO. SBI Mutual Fund invested Rs 1,006.89 crore, turning into the biggest investor within the anchor ebook quota.

    LIC mobilised Rs 5,627 crore from anchor traders on Monday. Four fairness schemes of SBI MF invested the quantity, with SBI Equity Hybrid Fund alone placing in Rs 518.99 crore, in accordance with information obtainable with exchanges.

    Seven schemes of ICICI Prudential Mutual Fund invested Rs 725 crore within the LIC IPO. HDFC Mutual Fund was allotted shares value Rs 525 crore. Aditya Birla Sun Life MF, Axis Mutual Fund, Kotak MF, L&T MF and Nippon India MF, amongst others, additionally invested within the anchor portion.

    Among overseas funds, BNP Investments LLC was allotted shares value Rs 449.99 crore. Govt Pension Fund Global of Norway invested Rs 224.99 crore. The authorities of Singapore invested Rs 151.67 crore and the Monetary Authority of Singapore put in Rs 38.32 crore.

  • LIC IPO: Day 1, 67% booked, workers and policyholders oversubscribe quota

    The mega preliminary public providing (IPO) of Life Insurance Corporation (LIC) acquired a robust response from traders with 67 per cent of the shares getting bought out on Wednesday, the primary day of bidding, regardless of the inventory market plunging 2.29 per cent after the Reserve Bank of India hiked rates of interest.

    LIC policyholders led the subscription checklist, with their quota subscribed 1.99 instances (199 per cent). The portion for workers was subscribed 117 per cent. The retail traders portion, in the meantime, was subscribed 60 per cent, in accordance with inventory trade knowledge.

    While 2.21 crore shares had been allotted for policyholders, there have been bids for 4.40 crore shares. Employees bid for 18.53 lakh shares towards their quota of 15.81 lakh shares.

    The first day’s response from traders for the IPO has been sturdy regardless of the RBI’s charge hike which got here after the market opened. The 1,307-point Sensex fall didn’t have an effect on the IPO a lot, analysts mentioned.

    Non-institutional traders subscribed 27 per cent of their portion whereas certified institutional patrons (QIBs) purchased 33 per cent of their allotted quota of three.95 crore shares. QIBs usually put of their bids on the final day of the IPO, funding bankers mentioned.

    Overall, there have been bids for 10.86 crore shares as towards the entire IPO dimension of 16.20 crore shares on the primary day, exchanges mentioned. The challenge will shut on May 9.

    The company has priced the IPO within the vary of Rs 902-949 per share. It has supplied a reduction of Rs 60 for policyholders and Rs 45 for retail traders and workers. The dimension of the IPO was lower from Rs 65,000 crore to Rs 21,000 crore because the Russian invasion of Ukraine and sustained promoting by overseas traders despatched the inventory markets right into a tailspin.

    Domestic mutual funds invested Rs 4,002.27 crore, accounting for 71.12 per cent of the entire anchor ebook portion of the IPO. SBI Mutual Fund invested Rs 1,006.89 crore, changing into the most important investor within the anchor ebook quota.

    LIC mobilised Rs 5,627 crore from anchor traders on Monday. Four fairness schemes of SBI MF invested the quantity, with SBI Equity Hybrid Fund alone placing in Rs 518.99 crore, in accordance with knowledge out there with exchanges.

    Seven schemes of ICICI Prudential Mutual Fund invested Rs 725 crore within the LIC IPO. HDFC Mutual Fund was allotted shares value Rs 525 crore. Aditya Birla Sun Life MF, Axis Mutual Fund, Kotak MF, L&T MF and Nippon India MF, amongst others, additionally invested within the anchor portion.

    Among overseas funds, BNP Investments LLC was allotted shares value Rs 449.99 crore. Govt Pension Fund Global of Norway invested Rs 224.99 crore. The authorities of Singapore invested Rs 151.67 crore and the Monetary Authority of Singapore put in Rs 38.32 crore.

  • LIC IPO Highlights: Total subject subscribed 1.03 occasions by finish of Day 2 led by policyholders and workers quota

    LIC IPO: Since the IPO is totally an OFS, all the web proceeds will probably be paid to the President of India (central authorities) and the life insurer won’t obtain any proceeds of the supply, in accordance with the data within the pink herring prospectus (RHP) of LIC. The shares will probably be listed on each BSE and NSE.

    LIC is the nation’s oldest and largest life insurance coverage agency. It was shaped by merging and nationalising 245 non-public life insurance coverage corporations on September 1, 1956, with an preliminary capital of Rs 5 crore. LIC now manages round Rs 40 lakh crore property and is the fifth-largest life insurer globally and the most important asset supervisor within the nation.

    At the top of the primary day of subscription, the difficulty was subscribed round 67 per cent (0.67 occasions). The section for policyholders and workers received oversubscribed 1.99 occasions and 1.17 occasions respectively. Apart from these two segments, Qualified institutional patrons (QIBs) quota was subscribed 0.33 occasions, non institutional buyers section was subscribed 0.27 occasions and the retail portion was subscribed 0.60 occasions.

  • LIC India: Opportunity for policyholders to revive lapsed insurance policies. Details right here

    For second time in FY22, Life Insurance Corporation of India (LIC of India) has given a chance to its policyholders to revie their lapsed insurance policies. The insurer has launched Special Revival Campaign from seventh February 2022 that can stay accessible until twenty fifth March 2022. Under this marketing campaign, life insurance coverage policyholders will be capable to revive their particular person lapsed insurance policies with concession in late charge.

    Concession in late charge

    While asserting the revival of lapsed particular person insurance policies, the LIC of India introduced concession in late charge as effectively. LIC mentioned that in view of the prevailing circumstances, concession are being supplied in late charge for aside from Term Assurance and High Risk Plans, relying upon the full premiums paid. There aren’t any concession on medical necessities.

    Elaborating upon the concession in late charge, LIC of India mentioned that on complete receivable premium as much as ₹1 lakh (for typical and well being insurance policies), 20 per cent concession in late charge with ₹2,000 cap on most concession quantity might be given on coverage revival. From ₹1,00,001 to ₹3 lakh receivable premium, concession in late charge is 25 per cent whereas the utmost quantity in late charge concession has been capped at ₹2500. Concession in late charge given on receivable premium above ₹3 lakh is 30 per cent whereas the utmost concession on this class has been capped at ₹3000.

    For revival of micro insurance policy, LIC has introduced 100 per cent concession in late charge.

    View Full Image

    Source: LIC of India

    While asserting its second Special Revival Campaign in present fiscal, LIC of India mentioned, “To provide continued Risk Cover in these challenging times, LIC brings a valuable opportunity for the second time in the current financial year for revival of lapsed policies. A Special Revival Campaign is being launched from 7th February to 25th March 2022 for individual lapsed policies.”

    See LIC tweet beneath:

    On cause for launching Special Revival Campaign, LIC mentioned, “The campaign is launched for the benefit of those policyholders whose policies lapsed as they were not able to pay premium on time due to unavoidable circumstances…. While the current Covid 19 pandemic scenario emphasized the need for mortality protection, this campaign is a good opportunity for LIC Policyholders to revive their policies, restore life cover and ensure financial security for their family.”

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  • LIC launches Saral pension plan. How a lot common earnings you’ll get

    The Life Insurance Corporation (LIC) of India on 1st July 2021 launched Saral pension plan — a non-linked, non-participating, single premium, particular person instant annuity plan. This LIC Saral pension plan affords two annuity choices to the coverage holders after one-time lump sum quantity cost. The plan additionally affords mortgage facility to the coverage holder after six months of the plan buy.

    Fixed cost at common intervals

    In this LIC of India pension plan, the coverage holder will will pay a lumpsum as buy value and get a set cost at common intervals for the remainder of its life. The minimal annuity {that a} coverage holder can avail is ₹12,000 each year. Minimum buy value shall rely on the mode of annuity, choice and age of the coverage subscriber or annuitant. However, there isn’t a ceiling on the utmost buy value.

    Option provided whereas selecting annuity

    As talked about above, this LIC Saral pension plan will supply two choices to the coverage holders whereas selecting the kind of annuity — life annuity with return of 100 per cent of buy value and joint life final survivor annuity with return of 100 per cent of buy value on demise of the final survivor.

    Modes of annuity provided

    As per the main points of this LIC Saral pension plan, modes of annuity accessible for the annuitant are month-to-month, quarterly and half-yearly. Hence, minimal month-to-month annuity accessible on this plan is ₹1,000, minimal quarterly annuity on this plan is ₹3,000 whereas minimal half-yearly annuity provided on this plan is ₹6,000.

    Age restrict

    Those who’re aged between 40 years to 80 years should buy this LIC’s Saral pension plan.

    Loan facility

    This LIC Saran pension plan additionally affords mortgage facility to the annuitants. An annuitant can avail this facility after six months of the graduation of this coverage.

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