Hot Pursuit     29-Jul-20
Edelweiss Financial spurts on buzz of getting chosen as pre-IPO advisors for LIC
Edelweiss Financial Services hit an upper circuit of 5% at Rs 77.85 after the media reported that the company has been selected as pre-IPO transaction advisors for the initial share sale by Life Insurance Corporation of India (LIC).
According to the media reports, the government has picked Edelweiss Financial Services and Deloitte as the two pre-initial public offer (IPO) transaction advisors for the listing of the country's biggest insurer – Life Insurance Corporation of India (LIC). The scope of the mandate includes advising the government on the modalities of the IPO and the timing, arriving at an optimal capital structure, preparing restated consolidated financial statements for the past three years for LIC and its subsidiaries, structuring the transaction amongst other aspects.

Earlier in February 2020, Finance minister Nirmala Sitharaman had announced in Budget that the government would sell a part of its holding in LIC by way of public listing. The government has 95% stake in LIC.

Edelweiss Financial Services is engaged in providing investment banking and advisory services, and holding activities/investments. The company's segments include agency business, capital based business and life insurance.

Previous News
  Edelweiss Financial Services consolidated net profit rises 13.00% in the September 2023 quarter
 ( Results - Announcements 10-Nov-23   16:03 )
  Edelweiss Financial Services to hold board meeting
 ( Corporate News - 09-May-24   10:58 )
  Edelweiss Financial announces NCDs issue worth upto Rs 200 cr
 ( Other Markets - Debt Markets 05-Oct-23   15:07 )
  Edelweiss Financial Services consolidated net profit rises 23.53% in the December 2023 quarter
 ( Results - Announcements 12-Feb-24   16:31 )
  Board of Edelweiss Financial Services recommends final dividend
 ( Corporate News - 27-May-23   12:25 )
  Edelweiss Financial slumps after RBI initiates supervisory action against two subsidiaries
 ( Hot Pursuit - 30-May-24   10:50 )
  Edelweiss Financial Services allots 29,750 equity shares under ESIP
 ( Corporate News - 20-Dec-23   15:55 )
  Edelweiss Financial board OKs NCD issue upto Rs 300 cr
 ( Hot Pursuit - 30-Jun-23   11:27 )
  Edelweiss Financial launches Rs 250-cr public issue of NCDs
 ( Other Markets - Debt Markets 09-Jan-24   15:22 )
  Edelweiss Financial Services to convene board meeting
 ( Corporate News - 03-Feb-24   12:49 )
  Edelweiss Financial Services approves Rs 500 cr public issue of NCDs
 ( Corporate News - 30-Nov-21   16:04 )
Other Stories
  Tata Motors JLR wholesale rises 5% YoY in Q1
  06-Jul-24   13:01
  Marico's domestic biz sees modest volume growth in Q1
  06-Jul-24   12:25
  Titan revenue rises 9% YoY, adds 61 stores in Q1
  06-Jul-24   11:09
  Dabur India expects mid to high digit revenue growth in Q1
  06-Jul-24   10:40
  Dhanlaxmi Bank gains as gross advances rises 6% YoY in Q1 FY25
  05-Jul-24   15:27
  HDFC Bank Ltd leads losers in 'A' group
  05-Jul-24   15:00
  Shilpa Medicare sizzles after Unicycive gets positive results in clinical trials of OLC
  05-Jul-24   14:52
  Manugraph India Ltd leads losers in 'B' group
  05-Jul-24   14:45
  NSE SME Nephro Care India rallies on listing day
  05-Jul-24   14:45
  ESAF SFB total deposits jumps 33% YoY in Q1
  05-Jul-24   14:43
Back Top