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“In India, companies may fall sick, but promoters rarely do!”

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Had Mooted LIC IPO a year ago on this blog !

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 !

Grand Daddy LIC to come out with a Patriotic Par IPO and List shortly !

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 ! “


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