Uday Kotak is all over the papers today in a pre budget meeting suggesting that LIC should be listed
He’s not saying anything original or new here
😆 …I’ve been saying this for years and even made it the butt of an April 1 Fool blog post last year !
Monday, April 1st, 2013
Reproducing it below ! …had even made it read plausible with actual financial and other stats !
“Grand Daddy LIC to come out with an IPO and List shortly !
……and the great news is that the IPO will be at Patriotic Par to reward the Indian Population ~ The Share Capital is only Rs 100 crs currently and held by the Central Government ~ A Mega Issue is in the Pipeline that will be a Mega Wealth Creator for all Shareholders
Look at it’s Financial Muscle ! as per it’s FY 12 Annual Report
Total Income of over Rs 3 lakh crs => US $ 55 billion ~ of which nearly half adds to float after Agent Commission ,Employee Salaries and Policy Claims on Maturity,Death or Surrender
Total Investments of @ Rs 13.5 lakh crs => US $ 250 billion
Over 1.2 million active agents !
LIC will file a Prospectus soon with SEBI ~ FIIs will not be allowed to subscribe in the IPO
The Market Capitalisation of LIC is expected to be the aggregate of the Market Capitalisation of the TOP 10 Companies ! ~ TCS,Infosys,Reliance,ONGC……
Cant wait to lick this par issue ! “