Speaking with FE earlier this week, finance secretary TV Somanathan had said that a very conservative estimate of LIC IPO receipt is included in the revised divestment estimates as neither the valuation nor the size of the issue was known at the time of fixing the estimate. The revised divestment estimate stands at Rs 78,000 crore.
LIC dominating the insurance space
LIC of India has the highest market share in terms of New Business Premium and No of Policies/Schemes is concerned. As of December 2021, LIC’s market share for the New Business Premium stood at ~ 66% which was significantly higher than the total market share of the private players.
Embedded value of LIC
Earlier last week, the state-run Life Insurance Corporation of India’s (LIC) embedded value was finalised at more than Rs 5 lakh crore ($66.82 billion).
LIC’s new business premium market share stands at 66% currently. The closest to LIC’s behemoth market share are HDFC Life and SBI Life with 7% market share each.
LIC IPO to propel retail broking
“We are anticipating the momentum in the opening of new retail broking accounts to get a boost on observing the interest that the LIC IPO is generating. 25 crore LIC policyholders and eight crore Demat accounts are currently present in India. With the government’s decision to reserve 10% of the total issue for policyholders, we are expecting some discount to the issue price for policyholders. Most importantly, policyholders will need to update their PAN number on the LIC website and link it to their policy number. There will also be a need to open a Demat account to ensure that LIC shares are credited into their accounts,”
LIC may file DRHP with SEBI today
Life Insurance Corporation of India (LIC) is expected to file its draft red herring prospectus today. The much-awaited public issue is likely to hit the primary market before the end of this financial year.
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