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Street Buzz: LIC IPO likely from 10 March, issue size seen at Rs 65,400 crore; Check out more
The IPO of Life Insurance Company of India (LIC) is likely to take place between March 10 and 14, and according to market rumors, the share sale could be worth around Rs 65,400 crore in the price range of Rs 2,000-2,100 per share rupee.
Earlier, the government filed a draft LIC document for the country’s largest IPO on Sunday, denying rumours of an offering date, saying any valuation decision would be made after a roadshow with investors and the listing would be completed in March.
However, speculation is rife about key aspects of the public offering, which could reserve 316 million shares for LIC’s 283 million policyholders.
The state-owned insurance giant, which has the nation’s largest network of 1.35 million registered agents, will try to lure policyholders to the IPO with a rumored 10 percent discount. To be sure, many policyholders will be first-time investors in the stock.
Let’s take a look at the LIC public release rumor mill in overdrive.
Issue Opens: March 10
Issue Closes: March 14
Issue Price: Rs 2,000-2,100 per share
Issue Size: 31,62,49,885 shares
Offer-for-Sale: 31,62,49,885 shares which is equal to Rs 65,416.29 crore
Discount: 10 percent for employees and policyholders
Price Band Announcement: March 7
Anchor Investors Allotment: March 9
Market Lot: Seven shares
Employees: 1.58 crore shares (10 percent discount = Rs 1,890)
Policyholders: 3.16 crore shares (10 percent discount = Rs 1,890)
Anchor: 8.06 crore shares = Rs 16,935.18 crore
Qualified Institutional Bidder: 5.37 crore shares = 11,290.12 crore
Non-Institutional Investors: 4.03 crore shares = 8,467.59 crore
Retail Individual Investor: 9.41 crore shares = 19,757.71 crore Listed Peers: SBI Life Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company
Complete News Source : Money Control
The previous owner of the domain turned out to be Dharmesh Shah, founder and CTO of software company HubSpot
OpenAI has bought the domain chat.com. Clicking on it automatically routes you to the ChatGPT website.
The AI giant’s CEO Sam Altman announced this on Thursday, November 7, 2024, by simply posting the URL on X (Formerly Twitter) without any description or reasoning.
Altman’s post has already gotten over 3 million views and nearly 15k likes. The domain purchase is likely part of a rebranding effort.
The domain’s previous owner turned out to be Dharmesh Shah, founder and CTO of software company HubSpot. Shah announced this in posts on X and LinkedIn.
In his post, he detailed how he had purchased the domain for $15.5 million earlier this year and sold it later to an undisclosed (at that time) buyer.
“Well, in an 8 character tweet (talk about brevity), Sam Altman, the CEO of OpenAI revealed that they were the buyer,” he wrote. ”If you visit the website now, it goes to ChatGPT.” Shah wrote he was not at liberty at that time to share who the acquirer was as he was “going to leave that to them, when they were ready.”
He then went on to share GPT o1 prompt which reasoned the entire episode. “When he does sell a domain, it’s almost never at a loss,” and “Dharmesh doesn’t like profiting off of people he considers friends,” the prompt read, which could mean he did sell it for more than the $15.5 million he bought it for, since it also says he doesn’t like referring to himself in the third person.
However, its also indicated he got compensated in OpenAI shares since the prompt reads that he “always wanted to own OpenAI shares,” that “he doesn’t need the cash from a domain sale,” and that “he made a non-humble brag earlier this year that he’s now an investor in OpenAI.”
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