Latest India Headlines
All the headlines from our India Topic Page, ordered by recency.
Howden Gets Regulatory Nod to Raise Stake in Howden India to 100%
May 26 2022 // Howden, the international insurance broker, announced it has obtained approval from the Insurance Regulatory and Development Authority of India (IRDAI) to increase its shareholding in Howden India from 49% to 100%. The...
Fairfax-Backed Digit Insurance Targets $5B in India IPO Valuation: Sources
May 25 2022 // India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three...
India’s LIC Shares Slump After Record, but Disappointing, IPO
May 17 2022 // Shares in Life Insurance Corp. of India (LIC) slid 6% in their market debut on Tuesday, a fresh setback for the state-owned giant after its IPO, while record-breaking, raised far less for the government than initially...
India’s LIC Prices IPO at Top of Indicated Range: Source
May 13 2022 // India’s Life Insurance Corp. (LIC) has priced its initial public offering at the top of the indicated range, at 949 rupees ($12.28), a source familiar with the matter said on Friday. The state-owned insurance...
Foreign Institutional Investors Steer Clear of India’s Biggest IPO
May 9 2022 // Foreign institutional investors have on the whole steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the global market backdrop. With just hours to go until the end of the...
Update: Record $2.7 Billion IPO by India’s Life Insurance Corp. Is Oversubscribed
May 5 2022 // The record $2.7 billion initial public offering (IPO) by India’s Life Insurance Corp. (LIC) was oversubscribed on Thursday, helped by attractive pricing, making way for gains over the listing price later this...
India’s ONGC Struggles to Ship Russian Oil to Asia as Sanctions Bite: Sources
Apr 28 2022 // India’s Oil and Natural Gas Corp. (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East, in a growing sign that complex trades involving one of Moscow’s biggest...
India Slashes Size of Mega Insurer’s IPO With Issue Opening Next Week
Apr 27 2022 // India slashed the size of its biggest initial public offering by about 60%, pressing ahead with the sale even as the war in Ukraine continues to weigh on investor demand. Prime Minister Narendra Modi’s government...
India Halves Fundraising Goal to $3.9B for Life Insurance Corp.’s IPO: Source
Apr 22 2022 // New Delhi is halving its fundraising goal for Life Insurance Corp. of India’s IPO to 300 billion rupees ($3.9 billion), having had to cut its valuation estimates after feedback from investors, a government source...
HDFC Bank’s $40B Bid to Buy Shareholder May Face India Reg Hurdles on Insurance Ops
Apr 7 2022 // India’s largest private lender HDFC Bank’s $40 billion acquisition of its biggest shareholder could face regulatory hurdles due to the stake it would give the bank in the insurance sector, analysts...
India’s Accidental Missile Launch Endangered Dozens of Passenger Jets
Mar 18 2022 // A missile that was accidentally launched out of India last week fired into the flight path of dozens of commercial jets flying in the region at the same time. Several planes passed through the direct trajectory of the...
Gallagher Rebrands India Business After Edelweiss Acquisition
Mar 15 2022 // Gallagher, the international insurance broker, announced the rebranding of its India business to Gallagher Insurance Brokers Private Ltd. Gallagher Insurance Brokers Private Ltd. is one of the leading providers of risk...
India Plans to Launch Life Insurance Corp.’s Delayed IPO in April: Sources
Mar 14 2022 // India aims to launch its $8 billion listing of state-run Life Insurance Corp. (LIC) by mid-April, two government sources said, after delaying what will be the country’s biggest ever IPO from this month due to market...
India Approves Up to 20% Foreign Direct Investment in Giant Insurer LIC: Source
Feb 28 2022 // India’s cabinet approved on Saturday a policy amendment allowing foreign direct investment of up to 20% in Life Insurance Corp of India (LIC), a government source said, a change aimed at easing the listing of the...
Prospective Investors in Giant LIC IPO Worried About Gov’t Control of Insurer: Sources
Feb 22 2022 // Prospective investors in Life Insurance Corp. of India’s (LIC) $8 billion IPO are seeking assurances from company management that it will not sacrifice their interests to meet the goals set out by the government, its...
India’s State-Run Insurer LIC Set to Launch Record $8 Billion IPO on March 11: Sources
Feb 18 2022 // A public offering of shares by India’s state-run Life Insurance Corp (LIC), set to be the country’s biggest yet at $8 billion, is expected to open for anchor investors on March 11, three sources with direct...
India’s Life Insurance Corp. Files IPO Papers to Potentially Raise $8 Billion
Feb 14 2022 // State-run Life Insurance Corporation of India (LIC) has filed draft papers with the market regulator to sell 5% of its shares to potentially raise nearly $8 billion, dwarfing the biggest IPO in Asia’s third-largest...
Life Insurance Corp. of India’s Embedded Value Set at More Than $66.8B: Gov’t Official
Feb 3 2022 // NEW DELHI – State-run Life Insurance Corp. of India’s (LIC) embedded value has been finalized at more than 5 trillion rupees ($66.82 billion), a government official who is overseeing what is expected to be the...
Berkshire’s, SoftBank’s Early Investments in India’s Paytm Sour After Stock Rout
Jan 31 2022 // The collapse in the shares of Paytm following India’s largest initial public offering is proving an expensive lesson for the firm’s early backers. Paytm shares have tumbled 58% since the stock listed on Nov....
LIC Could Begin Issuing Public Shares for India’s Biggest IPO by Mid-March: Sources
Jan 14 2022 // Life Insurance Corp. (LIC), India’s largest insurer, could publish key details of its mammoth initial public offering (IPO) this month and begin issuing public shares by mid-March, government and banking officials...
