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The Largest #IPO India Has Ever Seen & Even After Its Listing LIC Has Still Remained In The Spot Light!

LIC's Stock Is Down 28% From Its IPO Price

I Spoke To MR Kumar, Chairperson At LIC On All Opportunities & Uncertainities Around The Biz

#LIC #LICIPO #IPO #market #stocks

▪️LIC Stock Corrected Because Of Market Correction

▪️Don't See Any Concerns Around Biz

▪️LIC Is Doing As Good As Private Players On Biz Front

▪️LIC Investors Have To Remain Patient For Sometime

▪️Had VNB Margin Of 9.3% As On Sep 30, Pre-Bifurcated Margins Stood At 12%

▪️Looking At Growing Margin To At Least 15% In Medium Term

▪️Expect To Be On Par On Margin With Pvt Players (20-25%) In Long Term
Read 12 tweets
The LIC Mega listing is the big buzz on Dalal Street this morning, and Moneycontrol is on the ground, tracking the debut. 🔥

Stay tuned for the latest news and updates, reactions and more ⚡️…

Get all the LIVE updates at 🔗…

#LICListing | #LIC shares are all set for the big debut this morning, and the market sentiment seems to be a little sombre for the #IPO.

Track Moneycontrol for all the latest on price action & expert opinion.…

LIVE updates at 🔗… ImageImageImage
@SecyDIPAM: LIC embedded value will be available regularly for investors to see.

#LICIPO #LICListing #LIC #IPO @aparnaviyer02
Read 16 tweets
#SupremeCourt to hear a batch of appeals and a fresh plea against verdicts of the Madras and Bombay HCs which dismissed challenges to the decision of the Centre to trade 5 per cent of its shareholding in Life Insurance Corporation (LIC) through an IPO #LIC #IPOAlert
Sr Adv Indira Jaising: please see the finance act of 2021. it is volume 2 milord @IJaising
Read 54 tweets
LIC IPO - Long Thread:
This could be the most hated thread of mine, coz who can argue with LIC fan base? But if your money is not going the right way, I’ll raise questions like I always do. With $3BN riding on #LICIPO , this could be the saving bet for many. Or so you hope…🧵
India’s Insurance density (Premiums/population) is very low & you will hear this most from insurers. India at $59 per capita premium appears to be in its "infancy" with huge upside ahead. Even with a base of 1.4 Bn people, this does look attractive for high growth. Right ?
Until you look at the YoY trend below (not found in DRHP, obviously). India has been stuck in this range since 2009. In-fact we have a falling trend with some spurts. This hardly looks like a growth market to me. So what happened here ? We’ll examine this later.
Read 24 tweets

1As the #LICIPO opens today for retail investors here is a short thread of my pieces since 2020 revealing the anatomy of India’s biggest-ever privatisation scandal
2 I start with this piece, written in Feb 2020, after FinMin first announced intent to “sell” LIC. I asked: how can you sell something you do not even own?…
3 In this piece, written in early Feb 2022, I warned about the grave possibility of undervaluing #LIC, India’s Crown Jewel. This was written before the LIC’s DRHP was filed with SEBI…
Read 8 tweets
As the #LIC IPO opens today, a small snippet from its of independent India’s first scams involved LIC, and a large part of the credit of bringing it to light lay with Nehru’s son-in-law.
Feroze Gandhi; whose proposal of marriage Indira Gandhi had accepted as she wrote, ‘on the steps of the (Basilica) of Sacré-Coeur’ at the end of summer while ‘Paris bathed in soft sunshine,’ is said to have had an unpleasant relationship with his father-in-law Jawaharlal Nehru.
The marriage was said to eventually have become an unhappy one. But, like Indira, he too spent time in jail during the freedom struggle; and was a formidable enough parliamentarian, not least when he was embarrassing Nehru’s government.
Read 11 tweets
LIC IPO: A Thread.

🚀Strong Demand from Anchor Investors


🏦Norges Bank, Singapore sovereign wealth fund GIC subscribe to anchor book: local MFs also come in as investors (#Kotak, #HDFC Mutual fund, #ICICI, SBI)

💳The #government is selling 22,13,74,920 shares in Life Insurance Corporation (#LIC) at a price band of Rs 902-949 a share, targeting to raise about Rs 21,000 crore.

Read 7 tweets
🧵 Mega Thread, for the Mega IPO of #LIC 💰

Let us dive 👇

Please Like, Share, Retweet if you find it useful 😄 Image
IPO details:

IPO Opens: 4th May,2022
IPO Closes: 9th May,2022
Face Value: ₹10 per equity share
Price Band: ₹902 to ₹949 per share
Min lot: 15 shares
Issue Size: ₹21,008.48 crs
OFS: 221,374,920 Shares
The IPO will be purely OFS where Government of India will be offloading 3.5% stake in LIC

Employee reservation- Up to 1,581,249 Equity Shares
Policy Holder reservation- Up to 22,137,492 Equity Shares
Post that
QIB - 50%
Retail - 35%
NII - 15%
Read 23 tweets
Unravelling the most awaited and #LARGEST #IPO of #India. #LICIPO #LIC #Investing #Equity #DRHP
Random FACT - LIC is a part insurance and part investment products company.
The price band is set at Rs 902 - Rs 949 per equity share, and I find it very attractive.
Read 24 tweets
LIC चा IPO येतोय..हा IPO घ्यावा म्हणून LIC कडून मोठी जाहिरातही केली जाते आहे.

पॉलिसी असणाऱ्यांनी हा IPO घ्यावा यासाठी LIC ने ६० रुपयांचा डिस्काउंट ही जाहीर केलाय..मग -

LIC चा मेगा IPO घ्यावा का ?


इन्शुरन्स चा धंदा मुळात चालतो कसा ह्याचा घेतलेला हा वेध..

#म #मराठीत
इन्शुरन्स चा धंदा मोठा किचकट आहे.

ह्यात पॉलिसी घेणाऱ्याकडून थोडे पैसे (प्रीमियम)घेतले जातात आणि काही अघटीत झाल्यास(पॉलिसीत नोंदल्याप्रमाणे उदा. अपघात ,मृत्यू ,आजारपण इ इ)पॉलिसी असणाऱ्याला भरलेल्या प्रीमियमच्या काही पट रक्कम दिली जाते..त्या रकमेला म्हणतात - Sum assured .
आता प्रश्न असा पडतो की इन्शुरन्स कंपनी इतके पटीने पैसे आणते तरी कुठून..??

ह्यासाठी इन्शुरन्स कंपन्या २ गोष्टी करतात - १.मागच्या वर्षी समजा १०० लोकांनी पॉलिसी घेतली आणि त्यातले १० लोकांनी क्लेम केला तर ह्या बाकीच्या ९० लोकांच्या प्रीमियममधून क्लेम केलेल्या लोकांना रक्कम दिली जाते
Read 22 tweets
#MCOpinion: Fighting human emotions like greed, lust, and envy are very tough in a #StartUp ecosystem bonded with loose social contracts.

Read on 👇…

#Unicorns #Investors
#MCOpinion: This ongoing #RussiaUkraineConflict is expected to accelerate the need & acceptance for #VDAs globally among ordinary citizens as a hedge when economic uncertainties rise.


#Cryptocurrency #RussiaUkraine
#MCOpinion: States earn significant revenues from taxing #petroleum products. This is particularly true for the richer or the so-called industrialised states such as Tamil Nadu & Maharashtra.

Read more👇…

✍️@gauravchoudhury | #FiscalDeficit #ValueAddedTax
Read 5 tweets
Now that #LIC IPO valuation is in public domain , lot of question would be asked what is #EmbeddedValue, her is some clarity
Definition: Embedded value is the sum of the net asset value and present value of future profits of a life insurance company.

Description: This measure considers future profits from existing business only, and ignores the possibility of introduction of new policies and hence profits from those are not taken into account.

Source :…

#LICIPO to open for subscription on May 4, priced at ₹902 - ₹949.
#IPO valued at 1.11x embedded value.

Below valuation comparison with global and domestic peers.

Originally the EV for LIC was ₹1.25 trillion , after changing the methodology it is ₹5.4 trillion

Read 4 tweets
Are you buying Insurance this year just to save taxes?

DON'T. 🤫

It could cost you more than it saves in taxes!

Here's how ⤵️
Suppose there is a Mr Rahul who gets Rs 7.5 Lakh a year as his salary (with no other sources of income).

➡️ In India, if you earn more than 5 Lakh, you have to pay taxes.

But there are ways by which you can reduce your Taxable income. Some of them are:

° By investing up to 1.5 Lakh in PF, NSC, ELSS, Insurance, etc (80C)
° By investing up to 50 Thousand in NPS (80CCD)
Read 15 tweets
Major Happenings in past few days.🧐

Price Hike in ⤵️

• Maggi
• PetrolDiesel
• Amul Milk
• Nescafe Coffee Powder

• FMCG makers have announced the hike in prices of various products passing the inflationary pressure to consumers😐
• LPG cylinders to cost Rs 50 more.
With dealer commissions & GST, a cylinder will now cost Rs 949.50. 🤯

Read 9 tweets
एलआयसी आयपीओच्या निमित्ताने उभे राहिलेले प्रश्न

एलआयसी ही भारत सरकारची कंपनी आहे. आता आयपीद्वारे सरकार या कंपनीतला आपला काही हिस्सा विकणार आहे. हा हिस्सा विकला तरीही बराचसा हिस्सा सरकारकडे कायम असणार आहे.
#म #मराठी #LIC #LICIPO
मग ही सरकारी कंपनी आयपीओनंतर प्रायव्हेट झाली तर तिचा कारभार कसा चालणार? जे नवे लोक एलआयसीमध्ये इन्व्हेस्टमेंट करतील त्यांच्या कंपनीकडून असलेल्या अपेक्षा वेगळ्या असल्या तर काय करायचे? असे काही प्रश्न या निमित्ताने उभे राहतील.
#म #मराठी #LICIPO
१. सरकार आपला हिस्सा किती आणि कसा कमी करणार?
आयपीओच्या नियमानुसार सरकारला एलआयसीमधील कमीत कमी ५% हिस्सा कमी करावा लागेल. कंपनीचे लिस्टिंग झाल्यावर दोन वर्षात आणखी १०% आणि नंतर पुढच्या पाच वर्षात २५% पर्यंत हिस्सा कमी करावा लागेल.
Read 16 tweets
एलआयसी आयपीओचा थेट परिणाम होणारे चार घटक

एलआयसीचा आयपीओ लवकरच मार्केटमध्ये येणार आहे. या आयपीओची साईज साधारण ५३,००० ते ९३,००० कोटींच्या घरात असेल असा अंदाज अनेक विश्लेषकांनी व्यक्त केला आहे. हा आयपीओ भारतीय मार्केटमधील सर्वात मोठा असेल.

#म #मराठी #lic #LICIPO Image
तुम्ही एलआयसीमध्ये इन्व्हेस्टमेंट करा अथवा नका करू, पण या आयपीओचा थेट परिणाम होऊ शकतील असे चार घटक या थ्रेडमधून आम्ही तुम्हाला सांगणार आहोत.
#म #मराठी #lic #LICIPO
१. CDSL - एलआयसीने आपल्या आयपीओमध्ये १०% कोटा आपल्या पॉलिसीहोल्डर्ससाठी राखीव ठेवला आहे. यातले बरेच लोक असे असणार आहेत की जे पहिल्यांदा डिमॅट अकाऊंट ओपन करतील. कंपनीने जाहीर केलेल्या आकडेवारीनुसार त्यांचे साधारण २९ कोटी पॉलिसीहोल्डर्स आहेत.

#म #मराठी #lic #LICIPO Image
Read 10 tweets
Top 9 Upcoming IPO's for 2022:

A Thread 🧵 :

Retweet, Comment & Share.
1. LIC

Life Insurance Corporation (LIC) of India is the largest and the most awaited IPO in India. The government plans to sell around 5% of its stake in the company.

@LICIndiaForever #LICIPO
#LIC #IPO #StocksInFocus #StockMarket #stockmarketcrash
2. OYO

OYO is a leading name in the hospitality sector led by @riteshagar. It plans to raise INR 8,430 crores through its IPO. This amount will be raised through fresh issue of Shares and Offer for Sale.

#oyo #IPO #StocksInFocus #stocks #stockmarketcrash
Read 11 tweets
1/n Trying a thread on where I will be looking for the next #corporategovernance lapse in India after #ILFS #yesbank #NSE . What exactly to look for is as important as what not to look for
2/n Do not differentiate between promoter driven or professionally run organisation. Remember while #Ranbaxy was promoter driven #ILFS was professionally run
3/n do not get over cautious on real estate , infra - remember India’s major corporate governance lapses happened in ‘clean’ sectors such as IT, Financial services, pharma - the fallen angels came from holier than though segments
Read 10 tweets
LIC IPO- Biggest is not the right word!

The government is expected to raise >75,000 Cr by selling part of its stake in the insurance behemoth LIC.

The issue size is so big that even the word big does not seem to capture the essence of how big it is!

A thread by Bhaskar & me. Image
Some numbers to put things in context-
1. The biggest IPO yet was by One97 Communications (Paytm), which raised just about 18,000 Cr; LIC IPO size is at least 4x.

2. The mutual funds SIP flows/month are upwards of 9,000 Cr; LIC hopes to raise >8x of this amt in 2 days!
3. There are 10 Indian states whose budget size is less than the LIC IPO size.
Read 5 tweets
The biggest #IPO in the history of the Indian capital markets is here (India's Aramco Moment as it is called)

We are talking about #LIC - A Rs 70000 to 1 lakh cr IPO!

Let's know everything about LIC & its IPO in the detailed thread below👇🧵

Please retweet for wider reach :)

First up, this thread wouldn't have been possible without @AnishA_Moonka

About LIC -

- A Domestic Systemically Important Insurer (“D-SII”),
- Providing life insurance in India for 65 years+
- Largest life insurer in India

- Largest Indian life insurer in terms of GWP (gross written premium), NBP (new business premium), number of individual and group policies issued for FY21.
- 5th largest Life insurance company by Gross written premiums and the 10th largest by assets globally.
Read 39 tweets
Thread on #LICIPO and valuation

1 Brief assessment from my hospital bed on LIC valuation based on DHRP filed with SEBI on Feb 13. The Govt plans to offload 5% of its stake, no fresh issue of shares. This means 31.625 crore shares will be offered for sale.
2. The real meat of the DHRP, which is relevant for the valuation of #LICIPO, is the section on the calculation of the Indian Embedded Value (IEV).
3. Most strikingly, the IEV at the end of Sept 2021 was Rs. 5.397 lakh crores, an increase of a whopping 465 % over the IEV computed for March 2021, just 6 months earlier!
Read 10 tweets
Breaking: LIC files its Draft IPO Documents with SEBI

Cyril Amarchand Mangaldas and Duane Morris & Selvam LLP represent Government of India

Shardul Amarchand Mangaldas & Linklaters represent the Bankers

@cyrilamarchand @LinklatersLLP @AMS_Shardul @shardul_shroff #LICIPO #SEBI Image
LIC is involved in 26,919 CASES of criminal, consumer, civil proceedings, tax proceedings

- 269 Criminal
- 12,323 Consumer
- 14,263 Civil (including 60 contempt matters)
- 63 Tax
- 1 regulatory

The Parliament of India passed the Life Insurance Corporation Act on June 19, 1956, and the Life Insurance Corporation of India was created on September 1, 1956.

LIC intends to sell 5% equity comprising of 31.6 crore shares (316,249,885).

Read 4 tweets
A Mega Thread fir Threads we have written so far

Like Retweet for maximum reach

A 🧵 on Changing dynamics Indian #QSR Industry!!

Let's understand the Industry where Domino's, McDonald's & BurgerKing operates!!

Read 8 tweets
Thread on #LICIPO

Based on forthcoming series on #LIC in @newsclickin
Part 1 - on valuation

1 India’s biggest-ever IPO will rest on what is determined to be #LIC’s Embedded value (EV). It promises to be the mother of all privatisation scams.
2 The notion that the EV of an insurance company captures its true worth is being cited as gospel. Nothing could be farther from the truth, for 2 reasons: a) as a measure the EV suffers from serious problems, because of the kind of assumptions/ methodologies it adopts
3 b) the EV ignores the specific characteristics of #LIC as a financial institution, sui generis in the world of finance. Nothing like it exists anywhere in the world. In my forthcoming article I examine how on both counts the valuation exercise would undervalue its real worth.
Read 20 tweets

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