Latest news with #LifeInsuranceCorporation
Hindustan Times
6 days ago
- Business
- Hindustan Times
My favourite products: A rapid-fire round with award-winning designer A Balasubramaniam
Does your lamp light your table up just right? Does your water bottle fit easily in your hand? 'Design is everywhere, and designers have the power to influence lives — for better or worse,' says product designer A Balasubramaniam, 64. Earlier this month, he became the first Indian to win the prestigious Hills Millennium Award. Here are three quick questions with Balasubramaniam. (For the full interview, click here.) * Why design? I feel like I didn't really discover design; design discovered me. I was born in Rajkot, Gujarat but travelled across India as my father had a transferable job with the Life Insurance Corporation. Through it all, my mother, a homemaker, was sort of my creative partner. She could make even the most mundane school projects fun and arty. Once, for a science project, she helped me make a table lamp out of a plastic tiffin box, some aluminium foil and a fruit basket. Her creative instinct possibly shaped me subconsciously. Back in the 1960s, I just never imagined something like that could become a profession. * What have been some of your favourite projects? One was a collaboration with block-making artisans in Pilkhuwa, Uttar Pradesh, in 2000. These were artisans who had trained for generations in the art of carving wooden block-printing blocks. But the industry was languishing and they were out of work. I worked with them to channel their craft to make photo frames, stationery holders, coasters, mirrors, lamps, coasters, all of which used their traditional wood-carving techniques. Another interesting project was a collaboration with a cycle-rickshaw driver in Haryana. He would lug herbs, flowers and fruits from farms to factories, till he realised that they could be processed for juices, pulps and extracts at the farm itself, saving time and money. So, the man, Dharamveer Kamboj, designed his own prototype for such a machine, in 2003, in association with the National Innovation Foundation (NIF). When NIF reached out to me for developing the product, we realised that the innovator's design had many flaws. It was difficult convincing Mr Kamboj about the changes that it needed, but over time, I was able to build that trust and in the end, he was happy to see it was his own design with his name. * Can you name three products, designed by others, that you admire? My most favourite thing is the Anglepoise lamp designed by George Carwardine, a British automotive engineer, in 1931. With a spring, crank and lever, it is efficient, flexible and a classic design. The Eames Lounge Chair with ottoman, made of wood and leather, is also a favourite. It was designed, of course, by Charles and Ray Eames in the 1950s. I had the chance to sit on one and it was the most comfortable experience! The third is a craft product — Jawaja bags — that a former colleague Nilam Iyer created with leather artisans who were once mainly shoemakers, in Jawaja, Rajasthan, in the 1970s. The bags have such a contemporary design, and have helped the community.
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Business Standard
16-07-2025
- Business
- Business Standard
SBI eyes ₹25,000 crore via record QIP, sets floor at 2.5% discount
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto ₹25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of ₹811.05, which is at a 2.5 per cent discount on Wednesday's closing price. Separately, the bank's board approved another ₹20,000 crore fund raise by issuing bonds. Life Insurance Corporation, Singapore's GIC, Capital International, and ICICI Prudential AMC are some of the investors in the share sale, investment-banking sources said. This is the first QIP by the banking major since 2017, when it had raked in ₹15,000 crore. The fund raise, aimed at supporting growth, will add over 60 basis points to its capital adequacy ratio, which was 14.25 per cent as on March 31, 2025, analysts said. The government holds 57.43 per cent in SBI, and that is likely to come down to about 55 per cent after the share sale. 'The issue price will be determined in consultation with book running lead managers,' it said, adding it might offer a discount of not more than 5 per cent on the floor price calculated for the issue. Citigroup Global Capital Markets, Morgan Stanley India, HSBC Securities, ICICI Securities, Kotak Investment Banking, and SBI Caps are the issue's lead managers. SBI's market capitalisation has gone up from ₹3.25 trillion at the end of March 2021 to ₹7.13 trillion at the end of March 2025, according to its 'Analysts Presentation' for 2024-25. Market capitalisation based on Wednesday's closing price was ₹7.42 trillion. The bank's board, which met on Wednesday, approved issuing Basel III-compliant Additional Tier-I and Tier-II bonds, up to ₹20,000 crore to domestic investors during FY26. The fund raise is subject to the Government of India's approval, SBI informed the stock exchanges. SBI's capital adequacy ratio stood at 14.25 per cent with Common Equity Tier-I of 10.81 per cent, Additional Tier-I of 1.3 per cent, and Tier-II of 2.14 per cent and as of March 2025, according to the Annual Report for FY25. Its advances grew 12.03 per cent year-on-year (Y-o-Y) in FY25 to ₹42.21 trillion and deposit books 9.48 per cent Y-o-Y to ₹53.82 trillion in FY25. According to the Reserve Bank of India's data, SBI's market share in aggregate domestic deposits was 22.60 per cent and that in aggregate domestic advances was 19.72 per cent at end of March 31, 2025. Its risk-weighted assets rose to ₹36.49 trillion at the end of March 2025 from ₹32.22 trillion a year earlier.
Time of India
10-07-2025
- Business
- Time of India
LIC posts 14.6% growth in June individual premium income
Life Insurance Corporation (LIC) has reported a 14.60 per cent year-on-year (YoY) increase in individual premium in June 2025 , higher than 12.12 per cent growth in premium income of private life insurers, Life Insurance Council data showed on Thursday. In June 2025, LIC collected Rs 5,313 crore in individual premium, compared to 25 private sector companies , which together accounted for Rs 8,408 crore. During the month of June 2025, total policies issued by LIC stood at 12.49 lakh from 14.65 lakh in the same period last year. In the individual policies category, LIC issued 12.48 lakh polices for June 2025 from 14.62 lakh policies in 2024, Group policies stood at 1,290 in the last month from 2,827 for June 2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nhà tiền chế 2025: Lựa chọn nhà ở giá rẻ (Tìm hiểu thêm) Prefabricated Homes Tìm hiểu thêm In group premium income, LIC earned Rs 22,087 crore, a 7 per cent decline over June last year. The private sector reported a degrowth of 19 per cent in group premium income at Rs 5,315 crore. The total premium income of LIC during the month declined 3.43 per cent to Rs 27,395 crore. Private sector players reported 2.45 per cent decline at Rs 13,722 crore in total premium income.
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Business Standard
10-07-2025
- Business
- Business Standard
Govt plans additional LIC stake sale through OFS; talks in early stage
The government is preparing to sell a further minority stake in Life Insurance Corporation (LIC), with the Department of Investment and Public Asset Management (Dipam) expected to finalise the transaction details, according to sources. At present, the government owns 96.5 per cent of LIC. In May 2022, it sold a 3.5 per cent stake through an initial public offering (IPO), priced between ₹902 and ₹949 per share. The IPO raised around ₹21,000 crore. Sources confirmed that the government has approved an additional stake sale in LIC via the offer-for-sale (OFS) route, although discussions are still at an early stage. 'It is up to the disinvestment department to look at the market condition and conclude the stake sale,' a source said. To meet regulatory norms, the government must reduce its holding by another 6.5 per cent to ensure at least 10 per cent of LIC's shares are publicly held by 16 May 2027. The size, pricing and timing of the next sale will be decided later, the source added. LIC's current market capitalisation stands at ₹5.85 lakh crore. As of the latest trade, LIC shares were down 2.27 per cent, priced at ₹924.40 on the BSE.
Time of India
10-07-2025
- Business
- Time of India
Government to sell LIC minority stake; DIPAM to finalise plan; 96.5% holding remains after 2022 IPO
NEW DELHI: The government is planning another round of stake sale in Life Insurance Corporation (LIC), and the Department of Investment and Public Asset Management (DIPAM) set to finalise the details. The government has given in-principle approval for selling more LIC shares through the Offer for Sale (OFS) route, sources told PTI. However, discussions are still at an early stage. "It is up to the disinvestment department to look at the market condition and conclude the stake sale," the source added. Currently, the government holds a 96.5% stake in LIC, after offloading 3.5% in its May 2022 IPO, which raised around Rs 21,000 crore at a price band of Rs 902–949 per share. To comply with public shareholding requirements, the government must sell an additional 6.5% stake by May 16, 2027, to achieve the mandatory 10% public ownership threshold. The source further indicated that the decisions regarding sale volume, pricing, and timing would be determined subsequently. LIC's market capitalisation currently stands at Rs 5.85 lakh crore. On the BSE, LIC shares were trading at Rs 924.40, showing a decline of 2.27% from the previous closing price. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
