The Securities and Exchange Board of India (SEBI) has granted an additional three years of time to the Life Insurance Corporation of India (LIC) to achieve 10 per cent public shareholding. Under Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957, a company must have a 10 per cent public shareholding in 5 years from the date of listing.
Accordingly, with the SEBI's extension, the revised timeline for the insurance corporation to achieve 10 per cent public shareholding is on or before May 16, 2027. The central government has earlier granted a one-time exemption to Life Insurance Corporation of India to achieve 25 per cent Minimum Public Shareholding (MPS) within 10 years since its listing on the exchanges.
The country's largest insurer, LIC, was listed on the exchanges in May 2022. The government had reportedly sold over 22.13 crore shares, or a 3.5 per cent stake in LIC, through initial public offering (IPO). Reportedly, the government currently holds 96.5 per cent stake in the company.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.
| Company Name | CMP |
|---|---|
| ICICI Prudential | 612.80 |
| Go Digit General Ins | 338.85 |
| Star Health and Allied | 531.05 |
| Life Insurance Corp | 1067.00 |
| HDFC Life Insurance | 598.05 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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