LIC IPO: If you are a policyholder of LIC, then keep these five things in mind before buying IPO, there will be no problem, know full details

LIC IPO: LIC engaged in preparations will not sell its entire stake in IDBI Bank, chairman gave big information

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new Delhi. LIC, which is preparing for IPO, said that it will not sell its entire stake in IDBI Bank. The company can use the branches of the bank to sell its insurance products. LIC Chairman MR Kumar says that we would like to have some stake in IDBI Bank. Through this, it will help in selling insurance products.

The Government of India and LIC hold more than 90 per cent stake in IDBI Bank. The bank has assets of more than $ 39 billion i.e. Rs 2.92 lakh crore. By the end of December, the bank had over 1,800 branches across the country. The insurance company had acquired this bank when most of the bank’s loans became NPA.

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Had invested in the bank in 2019
LIC invested Rs 4,743 crore on 23 October 2019 using the money of the policyholders to bail out IDBI Bank. The bank raised Rs 1435.1 crore. The bank came out of the restrictions imposed by RBI in March 2021 itself. Both the government and LIC have been preparing to sell their stake in IDBI for the past few years.

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LIC has enough capital
Kumar said that LIC has sufficient capital and potential investors should not worry about the future of the company after the IPO. On the concerns raised about the government’s control over the company, the chairman said that all decisions are taken by the board. The government has a 95 percent stake in the insurance company.

keep some stake
LIC Chairman MR Kumar said that we would like to have some stake in IDBI Bank. Our idea of ​​taking stake in the bank was strategic in nature and that reason still remains. He said that as LIC chairman, I want this relationship to continue in future also.

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Know what the chairman said on profits
Kumar said the profits of insurance companies cannot be compared with that of any manufacturing firm. This is because the nature of both the businesses is completely different. In terms of surplus generation, more than Rs 50,000 crore has been generated in the last two years. Of this surplus, 95 percent was going to the policyholders. He said that when you look at five per cent, it seems small in size, but in reality it is not. Now the way of surplus distribution is going to change.

Tags: IDBI Bank, LIC IPO

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