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  • LIC Housing Finance Ltd Related news

LIC Housing Finance Ltd Related news

Govt not to participate in LIC’s open offer in IDBI Bank

Govt not to participate in LIC’s open offer in IDBI Bank

IDBI Bank Tuesday said government will not participate in LIC’s open offer to acquire 51 per cent stake in the bank.

IDBI Bank Tuesday said government will not participate in LIC’s open offer to acquire 51 per cent stake in the bank.

Now, you can pay LIC premium through Paytm

Now, you can pay LIC premium through Paytm

Digital payments service Paytm has entered into a partnership with Life Insurance Corp (LIC) to help customers make insurance premium payments, One97 Communications Ltd, which owns the Paytm brand, said on Wednesday.

The platform now provides online insurance premium payment solutions for over 30 insurance companies including LIC, ICICI Prudential Life, Reliance Life, Max Life Insurance, HDFC Life, TATA AIA, SBI Life, Aditya Birla Sun Life, Canara HSBC Life Insurance, Shri Ram Life and Star Health among others, the company said.

Shriram properties raises Rs 125 cr from LIC Housing finance arm for Bengaluru project

Shriram properties raises Rs 125 cr from LIC Housing finance arm for Bengaluru project

BENGALURU: Shriram Properties has raised Rs 125 crore from non-banking financial arm of LIC Housing Finance to develop a residential project in Bengaluru.

The funds will be used to construct Shriram Greenfield, a two-million sq ft residential project being developed across two phases in Whitefield, Bengaluru.

LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah

LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah

LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday. After inaugurating the 21st edition of the property fair ‘Ungal Illam’ here, company Managing Director and CEO, Vinay Sah said, “We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent.”

LIC makes Rs 12,602 crore open offer for IDBI stake

LIC makes Rs 12,602 crore open offer for IDBI stake

New Delhi: LIC on Thursday came out with an open offer for acquiring 26 per cent equity in IDBI Bank at a price of Rs 61.73 per share, entailing a total payout of over Rs 12,602 crore.

Earlier in the day, the IDBI Bank board approved the proposal for issuance of preferential shares in favour of LIC with a view to increase the insurer’s share in the bank up to 51 per cent.

Crisis-hit IL&FS can raise Rs 700 billion by selling assets, says LIC

Crisis-hit IL&FS can raise Rs 700 billion by selling assets, says LIC

Beleaguered IL&FS can raise up to Rs 700 billion by selling its assets, the Life Insurance Corporation of India Chairman V K Sharma said in New Delhi on Friday. LIC was open to raising stake in the company by participating in its rights issue, he added.

Another LIC bailout in offing? IL&FS will not be allowed to collapse, all options open, says LIC chief

Another LIC bailout in offing? IL&FS will not be allowed to collapse, all options open, says LIC chief

State-owned insurer LIC Tuesday said it will not allow debt-ridden IL&FS to collapse and explore options to revive it.T he Life Insurance Corporation (LIC) has the largest shareholding in IL&FS. IL&FS Financial Services, a group company of IL&FS defaulted on one of its commercial paper (CP) issuances due for repayment on Monday. This was the third default by the company.

LIC may offer a lifeline if IL&FS has a revival plan

LIC may offer a lifeline if IL&FS has a revival plan

With one default behind it, the beleagured Infrastructure Leasing & Financial Services ( IL&FS) will be looking for a lifeline from its shareholders at the board meeting on Saturday. The company’s largest shareholder, Life Insurance Corporation (LIC), is understood to be considering a loan to the defaulting Mumbai-based firm.

IL&FS board decides to seek a loan of Rs 30 billion from LIC and SBI

IL&FS board decides to seek a loan of Rs 30 billion from LIC and SBI

In an emergency meeting on Friday, the board of Infrastructure Leasing & Financial Services (IL&FS) decided to seek a loan of Rs 30 billion from two shareholders — Life Insurance Corporation of India (LIC) and State Bank of India (SBI).

The board decided to meet on September 15 to ensure that IL&FS and other group companies do not default on any further repayment obligation.

Irdai will set timeline for LIC to scale-down stake to 15% in IDBI Bank

Irdai will set timeline for LIC to scale-down stake to 15% in IDBI Bank

Insurance regulator Irdai will set a timeline for the Life Insurance Corporation of India (LIC) on how it must go about reducing its stakeholding from 51 per cent to 15 per cent eventually in IDBI Bank, said Subhash Khuntia, Chairman of the Insurance Regulatory and Development Authority of India (Irdai). He did not specify when the regulator will announce the timeline.

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