New Delhi: Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering .Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges.Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.Besides, investment was made by some domestic insurance companies and pension funds.Some of the prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme.Foreign participation included Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global and BNP Investment LLP.As per the prospectus, out of the 22.13 crore shares offered for sale, 5.93 crore shares were reserved for anchor investors.The government by diluting 3.5 per cent stake in LIC would raise Rs 21,000 crore, the biggest ever IPO in the Indian market.The previous such high fundraising was seen in the IPO of Paytm in 2021 at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.The price band for LIC IPO is Rs 902-949 per equity share.Policyholders will get a discount of Rs 60 per equity share, while retail investors and employees will get a discount of Rs 45 on each share.Of the total shares on offer, over 9.88 crore shares are reserved for qualified institutional buyers and over 2.96 crore shares for non-institutional buyers.Up to 15,81,249 shares and 2,21,37,492 shares are reserved for employees and policyholders.LIC would get listed and start trading on the stock exchanges on May 17.LIC's embedded value, which is a measure of the consolidated shareholders' value in an insurance company, was pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.Based on investor feedback, the market value of government-owned LIC has been pegged at 1.1 times its embedded value or Rs 6 lakh crore.LIC was formed by merging and nationalizing as many as 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore.Its product portfolio comprises 32 individual products (16 participating products and 16 non-participating products) and seven individual optional rider benefits. <img src="https://newads.rediff.com/rediffadserver/www/delivery/lg.php?bannerid=5315&amp;campaignid=1829&amp;zoneid=385&amp;source=_blank&amp;loc=https%3A%2F%2Fwww.rediff.com%2Fmoney%2Freport%2Flic-raises-rs-5627-cr-from-anchor-investors-led-by-domestic-institutions%2F20220503.htm&amp;referer=https%3A%2F%2Fwww.rediff.com%2F&amp;cb=f339dcb793">The insurer's group product portfolio comprises 11 group products.As of December 2021, LIC had a market share of 61.6 per cent in terms of premiums or GWP, 61.4 per cent in terms of new business premium, 71.8 per cent in terms of the number of individual policies issued, and 88.8 per cent in terms of the number of group policies issued.

Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering .

LIC raises Rs 5,627 cr from anchor investors led by domestic institutions

New Delhi: The Supreme Court on Thursday refused to grant any interim relief and stay the Life Insurance Corporation (LIC) IPO share allotment on a batch of pleas filed by some policy holders.A bench of Justices DY Chandrachud, Surya Kant and PS Narasimha said that the court should be reluctant to grant any interim relief in matters of commercial investments and IPO.“We are not inclined to grant any interim relief”, the bench said as it issued notice to the Centre and LIC on the batch of pleas seeking their response within eight weeks.The bench said that on the aspect of interim relief the court must be guided by the well settled principle of prima facie case, balance of convenience and whether there is any irreparable injury.The LIC IPO opened on May 4 for retail and other investors and is set to be allotted on Thursday.The bench noted that one of the pleas has challenged the interim order passed by the Bombay High Court and disposed it, saying the writ petition before the high court will be transferred to the apex court.The top court tagged the batch of pleas with a pending matter referred to a Constitution bench on the issue of passage of the Finance Act, 2021 as a money bill.—PTI

 The Supreme Court on Thursday refused to grant any interim relief and stay the Life Insurance Corporation (LIC) IPO share allotment on a batch of pleas filed by some policy holders.

SC refuses to grant interim relief & stay LIC IPO share allotment on batch of pleas

New Delhi: The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday urged the Securities and Exchange Board of India (SEBI) to call off online hospitality major Oyo’s initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years.FHRAI cautioned that Oyo’s IPO will allegedly wipe out public wealth while enriching its founders and key management.As per reports, Oyo incurred losses of Rs 3943.84 crore in FY20-21, translating to a loss of over Rs 76,077 every minute.According to the top hotel industry body, since its inception in 2013, Oyo has been running in losses and its total turnover fell a drastic 69 per cent from Rs 13,413 crore in 2020 to Rs 4,157 crore in 2021.“Oyo is a company that has consistently registered losses since its inception. It may have raised a lot of money to become touted as one of India’s most promising start-ups but it hasn’t done enough to manage the business on the ground as efficiently,” said Gurbaxish Singh Kohli, Vice President, FHRAI.In addition to its financial complications and losses, the company is being investigated for anti-competitive practices by CCI, said Kohli.“It is reported that Oyo has stopped operating single Hotels and has been reduced to just another online travel agent. The hospitality industry is wary of Oyo,” he added.FHRAI had previously objected to gross misstatements and inadequate disclosures contained in the Draft Red Herring Prospectus (DRHP) filed by Oyo.The association also filed a complaint with the SEBI stating Oyo’s tax evasion.The Directorate General of GST Investigation (DGGI) had filed a case of GST/service tax evasion against Oyo and its subsidiaries.“Oyo has been deliberately suppressing sales figures. It has been under-reporting revenues generated from hotels and has also been evading taxes,” according to Pradeep Shetty, Joint Honorary Secretary, FHRAI.The hospitality major was yet to react to FHRAI’s allegations.—IANS

The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday urged the Securities and Exchange Board of India (SEBI) to call off online hospitality major Oyo’s initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years.

FHRAI asks SEBI to axe Oyo’s IPO citing massive losses

New Delhi: After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022. In Q1 2022, the Indian market introduced 16 IPOs vs 23 IPOs in Q1 2021, according to the EY Global IPO Trends Q1 2022. During Q1 2022, proceeds raised through the main markets equated to $ 995m via three main market IPOs compared to US$ 2.57 bn during Q1 2021, which is a decline of 60 per cent in proceeds raised and a decline of 82 per cent in the number of deals. SME segment raised US$ 17.46m via 13 IPOs during Q1 2022.Nobin Paul has composed music and background score for the movie. The sudden reversal can be attributed to a range of issues, both emerging and residual. These include the rise in geopolitical tensions; stock market volatility; price correction in over-valued stocks from recent IPOs; growing concerns about a rise in the commodity and energy prices; the impact of inflation and potential interest rate hikes; as well as the Covid-19 pandemic risk continuing to hold back full economic recovery.The three largest IPOs in terms of proceeds were Adani Wilmar, Vedant Fashions and AGS Transact Technologies, with consumer products &amp; retail being the most active sector followed by the diversified industrial products. On the findings of the report, Sandip Khetan, Partner and Financial Accounting Advisory Services Leader, EY India, said, "The IPO momentum of a blockbuster 2021 has not carried over to 2022 so far. Issuance and proceeds are well off last year's pace, as geopolitical uncertainty along with other macro factors continues to affect investor sentiment. That said, we are witnessing the largest IPO (of LIC) in Indian capital markets and the successful closure of other recent IPOs. The backlog of IPOs could lead to a strong upswing in volumes if volatility does moderate and earnings are robust."However, in line with continued regulatory developments aimed at enhancing disclosures and market practices, there have been several recent amendments such as a change in disclosures for objects of the issue, revised norms for credit rating agencies (monitoring proceeds), revised norms for price band (wherein now 5 per cent cap is to be maintained between the floor price and upper price). In addition, SEBI issued a consultation paper on 'Basis of Issue Price' covering additional parameters, e.g., Key Performance Indicators (KPIs) to be disclosed, particularly for loss-making companies basis for arriving at the issue price.The EY report also highlights that there is a strong pipeline for IPOs in Q2 2022 and beyond. More than 20 companies have filed their DRHPs in Q1 of 2022, planning to raise funds in the current calendar year. These include a mix of traditional companies with long track records as well as newer age companies across various sectors such as consumer, pharmaceuticals, technology, logistics and financial services. In line with the sharp decline in global IPO activity, there was a considerable fall in cross-border, unicorn, mega (proceeds above US$1b) and SPAC IPOs. There were also several IPO launches postponed due to market uncertainty and instability. On a broader note, EY findings suggest witnessing a robust activity in the private market with more than 10 companies gaining Unicorn status in Q1 2022. PE/VC investments in 2022 continue good momentum, with Jan-Feb 2022 investments (US$10.3bn) being more than twice that of Jan-Feb 2021 (US$4.1bn) but 7.6 per cent lesser than the previous two-month period November-December 2021.—IANS

After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022.

Indian IPO market experienced significant slowdown

After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022.



Hyderabad: Telangana's Industry Minister K.T. Rama Rao on Tuesday appealed to the Centre to revive the Cement Corporation of India (CCI) unit in Adilabad even as the Centre has initiated steps to auction its assets. Reacting to reports that the Government of India has called for tenders to auction the machinery of CCI, the state minister took to Twitter to appeal to Union minister for commerce and industry Piyush Goyal and the Government of India to review and take a positive decision to revive the unit.He assured the Centre that the state government will extend all support and provide needed fiscal incentives to ensure thousands of youth from Adilabad are gainfully employed. The state government and KTR, as the state minister is popularly known, made several requests to the Centre in the past for revival of the unit, which was shut in 2008. The latest appeal came in response to reports that the Centre is auctioning CII machinery as scrap. It has also called for tenders for valuation of CCI land and buildings. This has belied all hopes of revival of the unit and workers see this as the final move to privatise the unit. In January, KTR had urged the Centre to reopen the unit saying there are a lot of favourable conditions and opportunities for the unit now.Minister KTR wrote that 772 acres of land is available for the unit. An additional 170 acres for CCI township and 1,500 acres for 48 million tonnes of limestone deposits are available. Stating that there was enough water and 2 KV electricity supply readily available for the unit, KTR said that reopening of CCI will not just help Telangana but also neighbouring states like Maharashtra. He had said reopening of CCI will help develop Adilabad in a big way, mainly new jobs will be created for the local youth. As the construction sector witnessed a boom and cement companies making profits, the state government felt that the conditions were favourable for reopening the unit.The CCI unit was set up at Adilabad in 1984 on 772 acres with an investment of Rs.47 crore. The CCI township was also built on 170 acres with 400 quarters. The unit was closed in 2008 due to losses, rendering 5,000 workers jobless. After formation of Telangana state in 2014, the state government had been requesting the Centre to reopen the unit as this would provide employment to locals in the region, which has a large number of tribals. Chief Minister K. Chandrasekhar Rao had also raised the issue with Prime Minister Narendra Modi.New Delhi Shares of the much-awaited Life Insurance Corporation of India (LIC) made a weak listing on the stock exchanges on Tuesday. The Indian insurance major listed on the stock exchanges at a discount of 8.62 per cent at Rs 867, from its Initial Public Offering (IPO) issue price of Rs 949. The initial public offering of LIC had, however, received robust response from investors as the insurance major's offer has been subscribed 2.89 times. It received bids for 46.77 crore equity shares against IPO size of 16.2 crore equity shares. The portion set aside for policyholders has been subscribed 5.97 times, employees bid 4.31 times the allotted quota and retail investors 1.94 times, while the reserved portion of qualified institutional buyers has booked 2.83 times and that of non-institutional investors 2.8 times. The long-awaited IPO for the LIC was open for subscription till May 9.The government has brought down the issue size from 5 per cent to 3.5 per cent -- Rs 21,000 crore. It will be a landmark public issue in the history of the Indian capital market and is poised to be India's biggest IPO till date. The IPO values LIC at Rs 6 lakh crore. The issue offer of the LIC was in the price band of Rs 902 to Rs 949. Also, the policyholders were offered a Rs 60 discount, while for retail investors, the discount was at Rs 45.—IANS

Telangana's Industry Minister K.T. Rama Rao on Tuesday appealed to the Centre to revive the Cement Corporation of India (CCI) unit in Adilabad even as the Centre has initiated steps to auction its assets.

T'gana appeals for revival of CCI unit as Centre moves to auction assets

Mumbai: Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday said the weak debut of the country's largest insurer LIC on the bourses was due to unpredictable market conditions and suggested investors to hold on to the stock for long-term value. LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on NSE.On BSE, the shares got listed at Rs 867.20 apiece, down 8.62 per cent over the issue price of Rs 949 a share. LIC had fixed the issue price of its shares at Rs 949 apiece after a successful initial public offering, which fetched Rs 20,557 crore to the government. Nobody can predict the market. We have been saying that it should not be held for a particular day but for more than a day, Pandey told reporters after the listing of shares.In LIC's share-sale, which happened through offer-for-sale route, retail investors and eligible employees were offered a discount of Rs 45 per equity share, and policyholders a discount of Rs 60 per equity share. LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 apiece, respectively, after taking into account the discount offered.Pandey said there was some protection for retail investors and policyholders who got the shares at a discount price. Speaking at the event, LIC Chairman M R Kumar said the response for the shares in the secondary market is going to be higher which will pull the prices up. The markets are also jittery. We were not expecting a very big jump.It (stock price) will pick up as we go along. I am sure a lot of people, especially the policyholders who have missed out on the allotment will pick up the shares (in the secondary market). I don't see any reason why it should be tepid for too long, MR Kumar told reporters. The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. The price range for the IPO, the largest in the country, was fixed at Rs 902-949 per equity share. The initial public offering of LIC was subscribed nearly three times.—PTI

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday said the weak debut of the country's largest insurer LIC on the bourses was due to unpredictable market conditions and suggested investors to hold on to the stock for long-term value.

'Weak LIC listing due to unpredictable market conditions'

Mumbai: The community consisting of promoters and their merchant bankers being ingenious have found new ways and have started creaming the system. This if not checked would be extremely detrimental to the capital market fund raising system in the medium to long term. In the mother of all IPO from LIC one saw that the total number of applications as per the exchanges on the last day of bidding was 73.37 lakh applications. The final number which was sent for banking or received by the registrar was down to 61.33 lakhs. Roughly one in six applications was not banked for various reasons. This is a high number and a cause for worry. However, what happened in the case of Prudent Corporate Advisory Services Limited was a shocker and needs to be studied as a test case for all capital market enthusiasts, intermediaries, regulators and above all investors.Prudent Corporate Advisory Services Limited or Prudent had tapped the capital markets with its offer for sale of 85,49,340 equity shares in a price band of Rs 595-630. The issue was open between May 10 and 12. The primary business of the company is a distributor of mutual fund products. It also has a large base of ARN's or authorised representatives or simply explained sub-brokers. This makes Prudent a B2B and a B2C player. The company is the 3rd highest in terms of retail AUM. It has 23,262 channel partners and 13.51 lac clients. The issue was considered expensive by most analysts and the company was expected to have a tepid response. On day one of bidding the retail portion was subscribed over 72 per cent and moved on more or less equally to end day three at 1.29 times. The issue garnered 1,53,381 applications and the retail portion saw bids of 38.01 lac shares. The overall issue was subscribed post the anchor allotment at 1.22 times and received bids for 73,20,969 shares. So far so good. The basis of allotment advertisement which was issued on the day of listing on May 20 had very interesting data. The number of applications received by the registrar had dropped dramatically to 42,868 and the number of shares bid to 71,34,30 shares. This number includes anchor investors. If one were to reconcile with the bidding on the exchanges, the corresponding number would be 42,844 applications for 43,56,476 shares. The discrepancy, a massive 1,10,537 applications or 72.06 per cent of the applications bid on the system for 19,64,493 shares. This is illogical and needs to be examined. Was the system being creamed to give a feeling that there was great demand for the issue and it was oversubscribed when reality was that the issue was yet to get subscribed?The reality. Retail investors applications received by the registrar were just 41,753 for a mere 11,68,584 shares. Of these, 2,203 applications for 63,342 shares were rejected by the system. There is nothing that could alarm in this rejection, this is quite normal. The final outcome is the startling point. The issue for 85.49 lac shares which was oversubscribed 1.22 times, remained undersubscribed. The company finally allotted 68,08,820 shares. The shortfall was a massive 17,40,520 shares or 20.35 per cent of the issue size. For the records, the share lost Rs 67.30 or 10.68 per cent to close at Rs 562.70 on the BSE at end of trading on day one. The high and low of the stock was Rs 660 and Rs 541.15. The three merchant bankers to the issue were ICICI Securities Limited, Axis Capital Limited and Equirus Capital Limited. If the information of subscription of just about 80 per cent would be publicly known, the response could have been even poorer and the issue have to be extended with a change in the price band. This is a very serious issue as the entire planning has been done with an intention to create a false atmosphere about the demand in the mind of retail investors and make the issue go through. Who benefited is clear? The modus operandi of systematically bidding for shares on the system on all three days so that the mirage is created should be checked and the guilty brought to book. While no one is guilty until proven, a matter as serious as this, warrants urgent action from the stock exchanges and the regulator.The persons whose applications have been bid for and then willingly or unwillingly not banked cannot be random in nature. This is concentrated in nature and a genuine database has been used to create over 1.1 lac applications. Detecting this would be a piece of cake for the exchanges. Once the guilty are identified, an option should be given to retail investors who have lost money in the IPO that their shares be bought back at the IPO price by the selling shareholder provided they have not sold as yet. Further, till this system is streamlined the association of investment bankers must work closely with the exchanges and SEBI to plug the gap, and as per their suggestion ensure that no further IPOs be allowed to be launched until the above issue is resolved. Finally, the Finance ministry must take action on a 'ASAP' basis as the credibility of the entire capital markets is now at stake. No one must be spared come what may.—IANS

The community consisting of promoters and their merchant bankers being ingenious have found new ways and have started creaming the system. This if not checked would be extremely detrimental to the capital market fund raising system in the medium to long term.

Creaming the system - The Prudent way

Finland:&nbsp;Menopausal transition increases women's body fat, especially around the waist, according to a study conducted at the University of Jyvaskyla's, Finland. As a result, women in their forties and fifties are advised to pay special attention to good lifestyle habits--physical activity and a healthy diet--to help alleviate the health risks associated with fat accumulation. The study was published in the journal, 'Aging Cell'. In the period of life prior to and after menopause, women tend to accumulate more fat in their bodies; the distribution of fat in the different regions of the body changes as well. Before menopause, women typically have more fat in their thigh and gluteal areas compared to men, but in midlife, many women notice an increase in fat, especially in their waist area. In addition to the total amount, the location of this adipose tissue also is meaningful to one's overall health, especially because mid-region fat has been shown to increase the risk for cardiovascular disease and type 2 diabetes."Aging increases total body adipose tissue accumulation in both men and women, but it seems that menopause may accelerate these changes in women," says doctoral researcher Hanna-Kaarina Juppi. "Although several studies have been conducted on this issue, the role of menopause specifically in the changing fat distribution is still under debate. Since women typically live in the postmenopausal state for several decades, it is crucial to study these changes and understand their meaning to health."In the current study, middle-aged women approaching menopause were followed for a maximum of 4 years over the menopausal transition. At the beginning and end of the study, women's body composition, mid-thigh adipose tissue area, and adipose-tissue-derived hormones from their blood were measured. Information was collected also regarding the level of physical activity, diet, and the use of hormone therapy. Fat accumulation was investigated also at the muscle fibre level. During the follow-ups, researchers found an increase in the fat mass over the entire body, with a notable increase in the waist area. Women who were more physically active and partook in a healthier diet during the study had lower fat mass. The use of hormone preparations was not associated with body fatness. "The results indicate that menopause affects body fat accumulation in women. Contrary to expectations, the increase in the amount of adipose tissue of our participants had only moderately negative effects on the hormones derived from the adipose tissue that reflect metabolic health," Juppi continues. "We suspect that the relatively healthy lifestyle habits of our participants helped them sustain metabolic health despite an increase in fat mass and menopause." Conducted at the Gerontology Research Center in the Faculty of Sport and Health Sciences at the University of Jyvaskyla, this research is part of the Estrogenic Regulation of Muscle Apoptosis (ERMA) and Estrogen, MicroRNAs and the Risk of Metabolic Dysfunction (EsmiRs) studies led by Associate Professor Eija Laakkonen. Nearly 1,400 Finnish women aged 47 to 55 years old participated in the original ERMA baseline. Of them, 230 women participated in the ERMA and 148 in the EsmirS follow-up studies. The research has been funded by the Academy of Finland.—ANI

Menopausal transition increases women's body fat, especially around the waist, according to a study conducted at the University of Jyvaskyla's, Finland. As a result, women in their forties and fifties are advised to pay special attention to good lifestyle habits--physical activity and a healthy diet--to help alleviate the health risks associated with fat accumulation.

Physical activity, healthy diet can help protect you from health risks during menopause

New Delhi:&nbsp;Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).The initial share-sale comprises a fresh issue of equity shares worth Rs 1,125 crore and an Offer-for-sale (OFS) of Rs 375 crore by promoters, investors, and other shareholders, according to the draft red herring prospectus (DRHP).Those selling shares in the OFS include promoters -- Ajay Adiseshan and Vishwanathan Subramanian and investors -- Lightbox Ventures I, Mayfield FVCI Ltd, RSP India Fund LLC, and IPO Wealth Holdings, besides, certain existing shareholders are too offering shares through this route.The offer also includes a reservation for subscriptions by eligible employees.Currently, the promoter and promoter group holds a 66.70 percent stake in the company and public shareholders own the remaining stake.Additionally, the company may consider a private placement of equity shares aggregating up to Rs 225 crore. If such placement is completed, the fresh issue size will be reduced.Proceeds from its fresh issuance worth Rs 77 crore will be utilized for investment for expanding the business into new geographies, Rs 228 crore for pursuing inorganic initiatives, and Rs 688.70 crore for placing cash as collateral with its financial institution partners to improve its margins and general corporate purposes.PayMate has developed from a consumer-facing to a Business-to-business (B2B) payments platform since its inception in 2006.It is a multi-payment category platform that incorporates vendor payments, statutory payments, and utility payments, giving its customers a ''fully-integrated'' B2B payment stack.The platform also allows consumers and their vendors, suppliers, buyers, dealers, and distributors to use commercial credit cards to make statutory payments of direct taxes and GST, as well as utility payments.Visa has a partnership with PayMate. It is also a shareholder in PayMate, owning 2.94 percent of the fully diluted paid-up equity share capital.PayMate's revenue from operations increased 61.19 percent from Rs 216.14 crore in Fiscal 2020 to Rs 348.40 crore in Fiscal 2021. Revenue for the nine months ended December 2021 stood at Rs 843.44 crore.ICICI Securities, HSBC Securities and Capital Markets (India) Private Limited, JM Financial, and SBI Capital Markets are the books running lead managers to the issue.The equity shares are proposed to be listed on BSE and NSE.—PTI

Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).

PayMate India files IPO papers with Sebi to raise Rs 1,500 cr

Srinagar: Two local militants were killed in an encounter with security forces on Tuesday in the Pulwama district of Jammu and Kashmir, police said.The encounter broke out at Rajpora in the Awantipora area of Pulwama district late on Monday night after security forces launched an anti-militancy operation, a police official said.Two local militants were killed in the gun battle. Two AK rifles and incriminating material were seized from the scene of the encounter, he said.Inspector General of Police, Kashmir zone, Vijay Kumar said the slain duo were involved in killing civilians, including a government employee."Killed terrorists identified as Shahid Rather of Tral and Umar Yousuf of Shopian. Besides other terror crimes, terrorist Shahid was involved in the killing of a woman Mst Shakeela of Aripal and a govt employee/peon Javid Ahmed of Lurgam Tral," the IGP Kashmir tweeted.—PTI

 Two local militants were killed in an encounter with security forces on Tuesday in the Pulwama district of Jammu and Kashmir, police said.

Two militants killed in encounter in J-K's Awantipora

 Two local militants were killed in an encounter with security forces on Tuesday in the Pulwama district of Jammu and Kashmir, police said.



Kolkata: The bodies of a septuagenarian couple were on Monday evening found in their flat in South Kolkata's Bhowanipore, considered a high-security area because of its proximity to West Bengal Chief Minister Mamata Banerjee's residence.The couple -- identified as businessman Ashok Shah and his wife Rashmita Shah was found dead in the flat on Harish Mukherjee Road, police said."Both the bodies bear several injuries. It seems jewellery is missing from the woman's body. Probably they were murdered when they resisted a burglary attempt. An investigation has been initiated," a senior police officer said.Sniffer dogs have been deployed to trace the accused.The couple, survived by three daughters, was staying with one daughter in the flat for several years and they were very active in investing in the share market, he said.City Mayor Firhad Hakim and local councillor Kajari Banerjee visited the spot.Hakim, after taking a look at the bodies, said that the injury on the abdomen of the man appeared to him to be caused by a "bullet".Commissioner of Police Vineet Goyal, who reached the spot, told reporters that a team of Kolkata Police, including those from the Homicide Department and Bhowanipore Police Station, jointly started an investigation into the murders.He, however, said the cause of death can be ascertained only after post-mortem examination."The family members will be able to tell if something has gone missing. Hope we crack the case soon," he said.Another senior officer told PTI that CCTV footage near the building will be scrutinised."There are instances of a scuffle inside the flat. Television was on and the almirah door was open," he added.—PTI

The bodies of a septuagenarian couple were on Monday evening found in their flat in South Kolkata's Bhowanipore, considered a high-security area because of its proximity to West Bengal Chief Minister Mamata Banerjee's residence.

Elderly couple found dead in Kolkata

The bodies of a septuagenarian couple were on Monday evening found in their flat in South Kolkata's Bhowanipore, considered a high-security area because of its proximity to West Bengal Chief Minister Mamata Banerjee's residence.



Kulgam: An encounter has started in Kulgam, informed the police officials on Saturday. The encounter broke out in the Khandipora area. "Encounter has started at Khandipora area of Kulgam. Police and security forces are on the job. Further details shall follow," tweeted the Kashmir zone police.Earlier on Tuesday, four terrorists were eliminated by security forces in Jammu and Kashmir in three different encounters within 24 hours. Of the terrorists killed during the period, three belonged to Lashkar-e-Taiba (LET) and one was affiliated with Hizbul Mujahideen, said the sources, adding two of them are Pakistanis and two are locals. Hanzula and Tufail belonged to Lahore, Pakistan; Ishtiaq Lone hailed from Tral, Awantipora and Nadeem belonged to Kulgam.—ANI

An encounter has started in Kulgam, informed the police officials on Saturday. The encounter broke out in the Khandipora area. "Encounter has started at Khandipora area of Kulgam. Police and security forces are on the job. Further details shall follow," tweeted the Kashmir zone police.

Encounter breaks out in J-K's Kulgam

Awantipora (Jammu and Kashmir) : A Jaish-e-Mohammed (JeM) terrorist, Kaiser Koka was killed, taking the total toll to two, in an encounter that broke out between the security forces and terrorists in the Wandakpora area of Awantipora on&nbsp;The identification of the second terrorist is yet to be ascertained. "Awantipora Encounter Update: 01 more terrorist killed (Total 02). Search going on. Further details shall follow," the Jammu and Kashmir Police tweeted. Incriminating materials, arms and ammunition have also been recovered."Terrorist Kaiser Koka neutralised. Identification of 2nd terrorist being ascertained. Incriminating materials, arms &amp; ammunition including 01 USA made rifle (M-4 Carbine), 01 pistol and other materials have been recovered," the police said in another tweet. The Jammu and Kashmir police said the operation is in progress and the search is still being carried out.Earlier today, the police informed that Koka has been active since 2018.(ANI)&nbsp;

 A Jaish-e-Mohammed (JeM) terrorist, Kaiser Koka was killed, taking the total toll to two, in an encounter that broke out between the security forces and terrorists in the Wandakpora area of Awantipora on The identification of the second terrorist is yet to be ascertained.

Two including JeM terrorist killed in Awantipora encounter in J-K

Tripoli [Libya]: The death toll from clashes between two rival armed groups in the Libyan capital Tripoli has increased to 16, and the injuries to 52, the Libyan Ministry of Health said on Saturday.“All the wounded are receiving medical care inside public and private hospitals in Tripoli,” the ministry said on its Facebook page.Clashes erupted between two rival armed groups in different parts of Tripoli late Thursday and lasted until early Friday.The United Nations Support Mission in Libya (UNSMIL) on Friday expressed concern about the clashes, and called on all Libyans to do everything possible to preserve the country’s “fragile stability at this sensitive time.”Libya has been suffering violence and unrest ever since the fall of the late leader UNSMIL’s regime in 2011. —ANI

The death toll from clashes between two rival armed groups in the Libyan capital Tripoli has increased to 16, and the injuries to 52, the Libyan Ministry of Health said on Saturday.

Death toll from Tripoli clashes rises to 16

Tripoli: The Libyan capital of Tripoli was calm after fighting between rival armed factions left 32 people dead, the Health Ministry said.
At least 159 others were injured in the fighting, the second time clashes have been seen in a month in the city amid a deepening political standoff in oil-rich Libya, dpa news agency quoted the Ministry as saying on Sunday.
The latest bout of violence erupted on Friday in the centre of Tripoli between two militias loyal to the rival governments in the country and raged on for hours on Saturday.
Online videos showed several public and private buildings as well as dozens of cars damaged as a result of the clashes.
An ambulance was also destroyed and another damaged, the city's medical centre said.
On Sunday, Libyan media carried footage of clean-up works on Tripoli streets.
Roads reopened which had been closed earlier due to the violence.
Libya has been in turmoil since the overthrow of dictator Muammar Gaddafi in 2011.
Two governments are currently vying for power in the North African country.
Prime Minister Abdul Hamid Dbeibeh is seated in Tripoli.
But the government of former Interior Minister Fathi Bashagha claims power for itself, having been appointed by the parliament based in the country's east.
Dbeibeh has repeatedly vowed he would only hand over power to an elected administration.
Libya's long-awaited election, which was originally due in December last year, was postponed amid political wrangling, with no new date set for the vote.&nbsp;
—IANS

The Libyan capital of Tripoli was calm after fighting between rival armed factions left 32 people dead, the Health Ministry said.

 Calm returns to Tripoli after militia fighting kills 32

Srinagar: Four residents of Bihar were killed on Saturday in a road accident in Jammu and Kashmir's Pulwama district.  Police said a bus carrying passengers went out of the driver's control and turned turtle at Gooripora in Awantipora area of Pulwama district.  "The injured were shifted to hospital, but three critically injured passengers died on way while the fourth died in the hospital.  "All four killed passengers of the bus belonged to Bihar," police said. IANS

Four people from Bihar were killed in a road accident in Pulwama, Jammu & Kashmir.

4 Bihar residents killed in J&K road accident

Srinagar: The police in Jammu and Kashmir along with security forces have arrested two terrorist associates linked with terror outfit Lashkar-e-Taiba (LeT) in Sumlar area of Bandipora and recovered incriminating materials and two Chinese grenades from their possession, an official said on Saturday.

"Acting on specific information regarding the movement of terrorist associates, the police along with Army (14RR) and CRPF at a checkpoint intercepted two suspected persons identified as Abrar Ahmad Wani a.k.a Abu Qadir and Danish Pervaiz, both residents of Sumlar in Bandipora," a police officer said.

"During checking, two Chinese grenades and other incriminating materials were recovered from their possession. They have been arrested and shifted to a police station where they remain in custody," the official said.

A case has been registered and further investigation initiated. IANS

Jammu and Kashmir police and security personnel arrested two Lashkar-e-Taiba (LeT) terrorists.

2 terrorist associates arrested in J&K

Srinagar News: Two teenage girls reportedly escaped molestation on Monday by jumping out of a moving car in J&amp;K's Kupwara district.

The Kralgund police station received information that two teenage girls had sought lift from a private vehicle at Rasripora to go to Watergam. On boarding the vehicle, the driver and another person attempted to molest the girls upon which they jumped out of the car at Rasripora, the police said.

Based on this information, an FIR under the relevant sections of law has been registered at the Kralgund police station.

"In public interest, parents and guardians are urged to counsel their children and wards to avoid taking or accepting lift from strangers," the police said. IANS

Two teenage girls reportedly escaped molestation on Monday by jumping out of a moving car in J&K's Kupwara district.

J&K: Two teenage girls jump out of moving car to escape molestation

Srinagar News: Jammu and Kashmir Police on Tuesday busted a prostitution racket, second in 10 days, in the Nowgam area of Central Kashmir's Srinagar district, officials said.

On April 3, police had busted a prostitution racket in a rented accommodation at Chanpura in Srinagar and arrested two persons who police said were running the sex racket. Four sex workers and two customers were also detained for questioning.

"Investigation in Chanpura case led to busting of another prostitution racket in Nowgam area. Shabir Mir of Charlipora Nowgam, his wife Shazia Mir and Adil Gulzar Hazar of Soura arrested on the spot for operating this racket. Two customers and a sex worker also detained (all locals)," Police said.

Police have asked all citizens to do verification of tenants if they have given their houses/rooms/shops on rent. IANS

Jammu and Kashmir Police on Tuesday busted a prostitution racket, second in 10 days, in the Nowgam area of Central Kashmir's Srinagar district, officials said.

Prostitution racket busted by police in Srinagar

New Delhi: In the first year of trading, the value of an investor's holdings in shares of the largest insurer in the country, LIC, fell by Rs 1.93 lakh crore, or 39.3 percent, from the issue price.
On May 17 of last year, following a successful Initial Public Offering (IPO) that brought in Rs 20,557 crore for the government, LIC listed at a discount of more than 8%. The BSE listed LIC shares at Rs 872, while the NSE set its opening price at Rs 867.20.
On the BSE, LIC shares have fallen by 39.92% from their initial offering price of Rs 949.—Inputs from Agencies

In the first year of trading, the value of an investor's holdings in shares of the largest insurer in the country, LIC, fell by Rs 1.93 lakh crore, or 39.3 percent, from the issue price.

The Hawk

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LIC raises Rs 5,627 cr from anchor investors led by domestic institutions

Sunil Aswal

Tag : IPO

LIC raises Rs 5,627 cr from anchor investors led by domestic institutions

Sunil Aswal

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