Business
LIC DRHP unlikely to reveal size of IPO; Board to meet again on Sunday
The Indian Life Insurance Company’s board on Friday approved the insurer’s initial public offering in principle, but requested certain clarifications and minor changes to the draft IPO documents, people familiar with the matter said.
If the issues are resolved to clear the draft red herring prospectus (DRHP), the 15-member board could meet again in the evening or even Saturday morning, these people said.
The DRHP is expected to be submitted by Monday at the latest, but may also be submitted on the weekend.
“The situation is very fluid. Every comma and full stop is being checked and rechecked, which is a huge amount of work because of the size of the LIC,” said one of the people. “Board members have been told to meet at short notice, so … work is in full swing,” the person said.
“There’s some process to follow, which is why the filing on Friday was delayed, but we’re very close and it’s going to happen in days or even hours,” said a second person involved in the process.
Actuarial firm Milliman Advisors fixed the company’s embedded value (EV) at Rs 500 crore. EV is a financial measure of a life insurance company’s future cash flow. Insurers are valued at multiples of EV.
“Currently, it is fair to assume that LIC is valued at 3.5 times its embedded value for a total market valuation of Rs 175 crore,” said Manish Ostwal, an analyst at Nirmal Bang Securities.
Ostwal said HDFC Life, the most highly valued life insurer today, has a market valuation of Rs 1.25 crore, more than four times the EV of Rs 30,000 crore as of December.
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Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.
Mindfulness at Work lifestyle
Business managers are incorporating mindfulness practices, such as meditation and deep breathing exercises, into their daily routines to reduce stress and increase focus in high-pressure situations.
Regular Exercise Breaks
Amid tight schedules, managers are embracing short exercise breaks, such as brisk walks or stretching exercises, to stay active throughout the day and boost their energy levels.
Nutrition and Healthy Eating
Prioritizing their well-being, managers are adopting healthier eating habits, including nutritious snacks and well-balanced meals, to sustain their energy during demanding workdays.
Time Management Workshops
Business managers are attending time management workshops to enhance their organizational skills, enabling them to efficiently juggle multiple responsibilities and achieve better work-life integration.
Skill Development Seminars
Recognizing the value of continual growth, managers are attending skill development seminars to stay updated on industry trends and enhance their leadership abilities.
Flexible Work Arrangements
Some forward-thinking companies are offering flexible work arrangements to business managers, providing the freedom to create a more harmonious work-life balance.
Social Engagement
Building a sense of camaraderie, managers are engaging in team-building activities and networking events to foster positive relationships within their professional circles.
Unplugging from Technology: In a digital era, managers are prioritizing personal time by unplugging from technology during non-working hours, allowing for genuine relaxation and recharging.
Pursuing Hobbies and Interests
Managers are rediscovering their passions outside of work, be it painting, gardening, or playing a musical instrument, to unwind and find fulfillment beyond their professional roles.
Encouraging Employee Wellness
Some managers are also promoting wellness initiatives within their teams, encouraging their employees to embrace similar activity hacks and lead healthier lives.
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