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The LIC market opened today amid fears about global market volatility

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3 years ago

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The LIC market opened today amid fears about global market volatility

After a record-breaking IPO last week, India’s insurance behemoth, the Life Insurance Corporation or LIC, made a shaky market debut on Tuesday. According to a Bloomberg report, shares in the state-owned insurance giant fell 9.4% to 860 rupees in Mumbai in the first hour of trading, compared to the issue price of 949 rupees. The government raised $2.7 billion (Rs 20,557 crore) last week by selling a 3.5 percent stake in the country’s top insurer, which was at the top of the range. However, analysts believe that global market volatility has cast a pall over the Dalal Street debut.

1. According to Reuters, a LIC executive stated that the company “should be able to settle our market share at 62-63 percent of the insurance market.” “We’ll look to push the guaranteed return plan products in the future to improve margin,” the executive said.

2. The LIC IPO was nearly three times oversubscribed, thanks to the enthusiasm of policyholders who received a 60 discount with multiple bids for the shares on offer. The shares were sold to LIC policyholders and retail investors for $889 and $904 respectively.

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3. Despite opposition criticism, the government decided to proceed with the IPO despite a global fundraising slowdown and decreased appetite among foreign investors due to the Ukraine conflict. According to a PTI report, the government has sold over 22.13 crore shares through the IPO.

4. Despite the absence of foreign investment, the IPO was said to be well received by retail and institutional investors.

5. Many dubbed the LIC IPO, which was the country’s largest to date, “India’s Aramco moment.” Saudi Arabia’s state-owned oil company Aramco raised $25 billion in the world’s largest initial public offering (IPO) in 2019, breaking Alibaba’s record.

6. According to the latest Ernst and Young report, the Indian IPO market slowed significantly in the first quarter of this year.

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7. The slowdown is thought to be caused by geopolitical tensions, stock market volatility, a price correction in overvalued stocks from recent IPOs, as well as concerns about rising commodity and energy prices and slower economic growth.

8. The Bombay Stock Exchange and the National Stock Exchange have both listed LIC shares.

9. Previously, the amount raised from the Paytm IPO in 2021 was the highest at 18,300 crore, followed by nearly 15,500 crore from Coal India (2010) and 11,700 crore from Reliance Power (2008).

10. The LIC share sale was originally scheduled for March but was postponed due to the Ukraine conflict.

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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