Interested and eligible candidates can apply for the posts online by visiting the official website of LIC — licindia.in before October 10, 2022.
For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly.
Total revenue of the company grew 9 per cent to Rs 5,285.46 crore in the current quarter.
The unclaimed deposits in the banks - deposits-SB/CA/fixed, not claimed for 10 years, was over Rs 48,200 crore last year, up from about Rs 39,200 crore in 2021 and about Rs 24,000 crore in 2020, as per the report.
The government had offloaded 3.5 per cent of its stake through the IPO route. The IPO valued LIC at Rs 6 lakh crore.
The shares listed at Rs 271 against its offer price of Rs 256.
Life Insurance Corporation (LIC) had fixed the issue price of its shares at Rs 949 apiece after a successful initial public offering, which was over subscribed nearly 3-times when it closed on May 9. The shares were lapped up mainly by retail and domestic investors, even as foreign investor demand was muted.
After rolling out Initial Public Offer (IPO) for public on May 4, India's largest insurance provider's share will be listed on the stock markets from today.
The share sale was initially planned to hit the markets in March. But the uncertainty in stock markets due to the Russia-Ukraine war pushed the issue to the current fiscal, which began in April.
"We expect post-IPO improvements in LIC's operating performance and profitability to drive comparable changes across the wider life insurance sector."
Protesting against the move of the government, the employees of LIC Circle Office in Cuttack staged a two-hour-long demonstration. They demanded the rollback of the decision.
LIC's initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.
The long-awaited Initial Public Offering (IPO) for the LIC will remain open to subscription till May 9.
As data suggest, its business is largely driven by agent based model (90 per cent plus), hence a larger digital on boarding of its network will be needed to pursue growth ahead.
The LIC's IPO is finally opening next week. In this episode, we explain the valuation, price band, timing of launch, the post IPO probable scenario and more on India’s "biggest" ever public offering.