IPO extends LIC Chairman's tenure for 1 year
By MYBRANDBOOK
The tenure of IPO-bound Life Insurance Corporation’s (LIC) Chairman, MR Kumar has been extended by another year. It was confirmed by the Department of Financial services on January 30. Along with the Chairman, the government has also extended the tenure of one of the Managing Directors, Raj Kumar, for one year. This has been done with a view to facilitating a smooth listing of the insurance behemoth.
With the extension, MR Kumar will continue as chairman of LIC till March 2023 or till he attains the age of superannuation. This is the second extension for the LIC chairman. Last year in June, he was given a nine-month extension in view of LIC's proposed initial public offering towards the end of the current financial year.
The government had extended the term of MR Kumar from June 30, 2021, till March 13, 2022, the date when he completes three years. The government is looking to list LIC during the current financial year in line with the Budget announcement.
The government owns a 100 per cent stake in LIC. Once listed, it is likely to become the country's biggest company by market capitalization with an estimated valuation of Rs 8-10 lakh crore. Meanwhile, the government has significantly increased the authorized capital of LIC to Rs 25,000 crore from Rs 100 crore to facilitate the listing.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TEJAS NETWORKS INDIA PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
FIRE BOLTT
SAMRIDDHI AUTOMATIONS PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
PARTNER SPEAKERS
PSU
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
