HDFC Bank has a market cap of Rs 724,496.17 crore and is at number four. Infosys, the country’s second largest IT company, is the fourth most valuable company in the country with a market cap of Rs 626,593.64 crore. The market cap of LIC will be more than five times that of HDFC Life Insurance Company, the country’s second largest insurance company. The market cap of HDFC Life Insurance is Rs 116,187.35 crore.
4th most valuable company in the world
Also LIC will be the world’s fourth most valuable insurance company (most valuable insurer globally). Currently, China’s Ping An Insurance of China is the most valuable insurance company in the world. AIA Group is second and China Life is at number three. LIC will be the fifth largest company in the world in terms of gross written premium.
Lakhs of people have invested money in the country’s biggest IPO. These also include lakhs of LIC policyholders. The government has raised Rs 21,000 crore through this IPO by selling its 3.5 per cent stake in LIC. To attract small investors, a rebate of Rs 60 was given to policyholders and Rs 45 to employees. If the gray market is to be believed, then LIC’s stock may get listed at a discount of Rs 20.
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