LIC Planning second round of global roadshows
LIC will soon do a second round of non-deal roadshows to convince global investors that its current market value of Rs 4.05 lakh crore is much less than it's worth. ET Now has learnt from sources that the life insurer will do roadshows at Singapore and USA to create a perception that with over 25 crore policy holders and over 60% of new businesses premium it has great potential to grow.
At IPO price of Rs 949 a share, LIC market cap was calculated at Rs 5.48 lakh crore & Shares of LIC have lost over a fourth of its market cap post listing in May 2022. LIC believes the company is worth much more than the current market cap of Rs 4.05 lakh crore. Non-deal road shows are aimed to create awareness among global investors of LIC’s potential, In June 2023, LIC has held similar roadshows at Hong Kong and UK.
LIC top-brass are enthused with PM Modi appreciation of LIC’s performance at Parliament &
believes with over 25 crore policy holders, huge agent network and sovereign guarantee it has huge potential and strength to grow. The life insurer is also making strategic shift towards high-margin products under non-par segments. LIC still accounts for 63% of new business premiums as of March 2023, despite tough competition with private sector
Govt has clarified earlier that there is no plan of an FPO for LIC & LIC has not replied back to ET Now's mail on the issue.
#lic #etnow #licplanning
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