News & Politics

Check Your LIC IPO Allotment Status In The Following Ways

Life Insurance Corporation (LIC) is likely to announce the allotment status of its IPO today. Opened for subscription From May 4 to 9, LIC IPO is the largest initial public offering in the history of the Indian stock market.

HIGHLIGHTS

• Subscribers can check the status of their LIC IPO allotment today
• The LIC IPO was subscribed 2.95 times despite weaker market conditions
• The IPO will be listed on stock exchanges on May 17

About LIC IPO

About LIC IPO

The state-owned Life Insurance Corporation offered 16 crore shares through an IPO and received bids for 47 crore shares in the six days of the IPO bidding process. The IPO was subscribed 2.95 times but some experts are of the opinion that LIC IPO failed to perform despite its huge size because of a weak market environment.

But retail investors show much interest in the offering. The portion reserved for them was oversubscribed by 1.99 times on the last day of the bidding process.

Price of LIC IPO Shares

LIC IPO

LIC offered its shares at a price band of Rs.902-Rs.949 per share but experts rate it low … Read the rest

Is Death Under Mysterious Circumstances Just Another Tweet By Elon Musk?

Tesla CEO Elon Musk in his latest tweet said about dying under “mysterious circumstances”. And it is the first time that he has indicated a risk to his life and his followers are connecting his fear to the Ukraine war.

HIGHLIGHTS

• Elon Musk tweets about death under “mysterious circumstances”
• His company SpaceX Starlink is providing military communication equipment to Ukraine
• Speculations are that he faces threat from Russia for helping Ukraine
• The post elicited mixed responses from Twitter users

What Is Disturbing In His Tweet?

Musk said that he would be held responsible for supplying the fascist forces in Ukraine with military communication equipment. He further said that he will be held accountable like no adult – no matter how much he would play the foo.

What Is The Truth Behind Russian Threat?

The communication equipment Musk talked about in his tweet was … Read the rest

Sri Lanka Declares A State Of Emergency For the Second Time In Five Weeks

Sri Lanka President Gotabaya Rajapaksa declared a state of emergency in the country citing public security and the protection of public order and the maintenance of essential supplies and services. It is the second in five weeks that the island nation has gone into emergency.

HIGHLIGHTS

• Sri Lanka declares a state of emergency for the second time in five weeks
• President Gotabaya Rajapaksa asked Prime Minister Mahinda Rajapaksa to step down
• The island nation is facing an acute shortage of foreign exchange due to clamping down on tourism during the COVID-19 pandemic

What Forced President Gotabaya Rajapaksa To Declare Emergency In Sri Lanka?

President Gotabaya Rajapaksa To Declare Emergency In Sri Lanka

The emergency came into effect from midnight on 6 May. A massive protest broke out in the country forcing President Rajapaksa to take this strict decision. Over 2,000 trade unions including the All Ceylon Transport Workers Union, Sri Lanka Railway Station Masters’ Union (SLRSMU), and the University students came out on the streets demanding the resignation of President Rajapaksa and the entire government. The first time Sri Lanka declared an emergency was on 1 April 2022.

What Is The … Read the rest

Arundhati Roy Said India Of Today Was Headed For A Crash

Booker Prize winner Arundhati Roy said “India of Today” was an airplane moving in a reverse direction and “headed for a crash”. She was speaking at a book launch event at Jawahar Bhavan.

What Did Arundhati Roy Say About “India of Today”?

Arundhati Roy Say About “India of Today

The author compared today’s India to that of the 1960s when leaders were spearheading truly revolutionary movements for redistribution of wealth and land. But today, she said, leaders were distributing “5 kg rice and 1 kg salt” to seek votes to win elections.

Ms. Roy said that she asked a pilot friend whether he could fly an airplane in the reverse direction. Her friend laughed out loud. She said that was what was happening in India. She further said that India was a land of sophisticated jurisprudence where laws were applied according to caste, class, gender, and ethnicity.

Which Book Was Launched?

The book was a selection of poems and letters by jailed human rights activist GN Saibaba. Published by Speaking Tiger, the book, Why do you fear my way so much? is available for sale in online and retail stores.

What Did … Read the rest

LIC IPO Opens Under The Shadow Of Russian Invasion Of Ukraine

The much awaited initial public offering (IPO) of Life Insurance Corporation of India (LIC) will open for subscription from 4-9 May. The over Rs. 21,000 crore IPO is offered with a price band of Rs. 902-909 per share.

HIGHLIGHTS

• LIC IPO opens tomorrow and will available till Monday
• The government is giving discount of Rs. 60 to its policy holders and Rs. 45 for retail investors and its employees
• Initial size of the IPO was cut to Rs. 21,000 crore due to international war conditions
• The central government is selling 3.5% stake in LIC through the IPO

About IPO

Lic IPO

It is entirely an offer-for-sale (OFS) offered with a discount of Rs. 60 per share for LIC policyholders and Rs. 45 per share for retail investors and institutional buyers. Also, half of the issue has been reserved for qualified institutional buyers (QIBs), 35% is reserved for retail investors, and 15% for non-institutional investors.

The shares will be offered in a lot of 15 equity shares and multiples thereafter. A single lot would cost approximately Rs. 14,235 (excluding discounts) and the shares will … Read the rest

SpiceJet Passengers Had A Close Encounter With Mid-Air Turbulence On May 1

A SpiceJet flight operating from Mumbai to Durgapur in West Bengal encountered severe turbulence while landing at Kazi Nazrul Islam Airport in West Bengal’s Durgapur on Sunday. The turbulence started due to a storm that locals call Kalbaishakhi. It left 14 passengers and three cabin crew members injured.

HIGHLIGHTS

SpiceJet flight landed safely after encountering severe turbulence Passengers were injured due to luggage falling over them and colliding with the aircraft roof and windows Video of the incident shows the aircraft floor littered with belongings of the passengers. The injured were rushed to the hospital for treatment

How The Turbulence Started?

Turbulence Started

Everything was right with SpiceJet Boeing B737 aircraft operating flight SG-945 from Mumbai to Durgapur until it reached the Kazi Nazrul Islam Airport in West Bengal. Suddenly a powerful storm engulfed the aircraft and it started hobbling. Passengers had their belts tied but those were broken by the turbulence.

The luggage kept overhead started falling over the passengers and hit many of them on their heads. The cabin crew tried their best to keep the aircraft stable and land safely but they couldn’t. The … Read the rest