BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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78%
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80%
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84%
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0.88
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Detailed explanation-1: -How much stake is LIC selling via IPO? The issue is entirely an offer for sale (OFS) by the government of India, which will offload 22.13 crore equity shares, aggregating to a 3.5 per cent stake of the company.
Detailed explanation-2: -As per the data, strategic sale in LIC through an initial public offering (IPO), the proceeds came in at around ₹20, 516.12 crore—for accounting 65.95% of the disinvestment receipts achieved by the government so far in FY23. LIC IPO is the largest ever in the Indian market.
Detailed explanation-3: -What is the reason behind this sale? Is it for financing the budget deficits? Or is the objective of this IPO to enhance the brand image & provide a public market for the equity shares by listing them on the stock exchange. It is argued that this would also act as a profitable opportunity for retail investors.
Detailed explanation-4: -The government and LIC hold 94.72 per cent stake together in IDBI Bank.