Mumbai: The Life Insurance Corporation of India (LIC) is cleaning his books ahead of the initial public offering (IPO) later this year.
The corporation, which lowers the net non-performance assets to 0.05% in March 202 from 0.79% in March 2020, now selling the NPA which is fully provided.
As part of the IPO plan, the corporation plans to audit its half-annual account for the period ended September 2021.
Traditionally, the corporation only published a full-year account.
An annual account tends to enter embedded value – a unique assessment method for insurance companies that include current net value of future income from policy.
LIC has designated Milliman as an actuary for processes and eyes as advisors.
The corporation is simultaneously involved in its capital base residence which will allow the distribution of share ownership on a much wider base.
The government is determined to resolve public problems during the current fiscal and, by remembering, working to ensure that corporate books are ready at the end of September.
The ministry puts the remaining legislative changes.
Lic, too, works overtime to implement policies to comply with Sebi rules for companies that are registered.
Although LIC has a large debt portfolio of a company, the share of debt exposure is a small company considering to have policy holder funds, which have reached RS 34.87,654 Crore.
The IDBI capital market has been wearing LIC block exposure to 15 companies, including DHFL, Reliance Communications, Reliance Capital, Jaiprakash Associates, Amtek Auto, IL & FS and Sintex.
According to sources, the corporation has fully provided this loan and sales will improve the quality of his portfolio.
The source said that it did not sell the entire default debt portfolio, but did it gradually.
IDBI Capital Markets offers LC loans to the reconstruction of assets, banks, NBFC, and alternative investment funds.
Potential buyers must sign a non-disclosure agreement.
The investment bank has said that it can use the Swiss Challenge Sales method where rivals will be given options to increase the best offers.
The source said that several loans were sold because of regulatory requirements.
Lic.
The IPO is expected to be the largest in India with many analysts who expect shares of more than RS 1 Lakh Crore.
In addition to its size, the corporation is seen as valuable given the new business share and high persistence among the policyholders.
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