New Delhi (India), 11th June 2023: A year after listing, India’s Life Insurance Corporation (LIC) will perform foreign roadshows, commencing later this month in Hong Kong.
According to reports, the LIC non-deal roadshows will take place between June 25 and June 29, with the meeting also taking place in the United Kingdom (UK).
According to the sources, the purpose of these roadshows is to raise awareness among global investors following the listing of LIC shares.
The non-deal roadshows will provide investors with an in-depth look at the company’s story. It also seeks to improve communication between the management team and investors.
According to insiders, LIC’s top management will interact with worldwide investors over a five-day period in a series of meetings designed to emphasise the company’s strengths.
The management will also try to encourage investors to partake in LIC scrips and convey that the company has a lot of potential.
Last year, the government raised Rs 20,557 crore by diluting its 3.5 percent ownership in LIC in the country’s largest-ever initial public offering (IPO).
On May 17, 2022, LIC shares were listed on the BSE at an 8.62 percent discount to the issue price of Rs 949 per share, at Rs 867.20 per share.
LIC’s total net profit more than fivefold increased to Rs 13,191 crore for the fourth quarter ending March 2023, up from Rs 2,409 crore in the same quarter last year.
LIC’s net profit more than tripled to Rs 35,997 crore for the fiscal year 2022-23, up from Rs 4,125 crore the previous year.
For the fiscal year ending March 31, 2023, the LIC board of directors has recommended a final dividend of Rs 3 per equity share with a face value of Rs 10 each.
