LIC's share by value in NSE-listed firms dips to 3.67%; IDBI Bank, LIC Housing, ITC among top 10 companies with maximum holding in December

As the central government is expected to file draft papers for the mega IPO of Life Insurance Corporation of India (LIC) with market regulator Sebi this month, LIC’s share by value in companies listed on the NSE went down to 3.67 per cent as on December 31, 2021 from 3.69 per cent as on September 30, 2021, said a report by Prime Infobase.  

However, in INR value terms, At Rs 9.53 lakh crore on December 31, 2021, LIC holding witnessed an increase of 1.46 per cent over the last quarter.

On free float basis, excluding non-promoter holding, LIC share by value went down to 7.41 per cent in the quarter ending December 2021 from 7.44 per cent in the last quarter.  

In terms of ownership by number of shares or share by volume, LIC share remained the same at 0.81 per cent as on December 31, 2021.

Meanwhile, IDBI Bank, LIC Housing Finance and ITC Ltd stood at top three slots among top 10 companies in which LIC had the maximum holding in the quarter ended December 31, 2021.  

In Value terms, Reliance Industries Limited, Tata Consultancy Services (TCS) and Infosys were the top three companies in which LIC had the maximum holding in the October-December quarter.  

Meanwhile, the embedded value of LIC IPO is estimated at over Rs 5 lakh crore, as per news agency PTI.

Replying to a question in the Rajya Sabha on Tuesday, Minister of State for Finance Bhagwat Karad had said all public sector banks and major private sector banks have informed that no revision in charges have been made for cash deposit beyond Rs 10,000 and withdrawal of Rs 25,000 in savings as well as other accounts with effect from January 1, 2022.

Notably, India Post Payments Bank (IPPB) owned by the Department of Post, revised charges on cash withdrawal and deposits beyond the free limits from January 1, 2022.  

"Private sector insurance companies gained 8% market share from LIC in 2 years "

As per a report by Emkay Global Financial Services, Private sector insurance companies have gained 8 per cent market share from LIC in the last 2 years. "On a 2-year CAGR basis, the retail weighted received premium (RWRP) growth in YTDFY22 is 10.2 per cent for the private life insurers and (-) 6.6 per cent for LIC. This divergent growth trend has led to the private sector gaining 8 per cent market share from LIC in the last 2 years," Emkay Global Financial Services highlighted in its report.

With its unchanged way of doing business over decades, LIC may lose its stronghold in the retail life segment, particularly in the high-ticket segment, the report said.