LIC, which got listed on the bourses in May, will hold its first Annual General Meeting on September 27, 2022, according to stock exchange filing. Mumbai:
State-owned LIC will invest Rs 80.67 crore in the proposed rights issue of its joint venture LIC (Nepal) Ltd.
The proposal was approved during the insurer’s board meeting on Monday.
LIC, which got listed on the bourses in May, will hold its first Annual General Meeting on September 27, 2022, according to stock exchange filing.
The board of the insurance behemoth also approved the record date for dividend payment as August 26.
”Approval has been accorded for investing in the proposed rights issue of LIC (Nepal) Ltd worth NPR 127.07 cr (Rs 80.67 crore) approximately subject to the prevalent exchange rate for infusing capital in LIC (Nepal) Ltd,” it said.
LIC owns 55 per cent stake in LIC (Nepal).
In another filing, LIC said the central government has nominated Suchindra Mishra, Additional Secretary, Department of Financial Services, as Government Director on its board with immediate effect.
He replaces Pankaj Jain.
“The 1st annual general meeting of the corporation will be held on 27th September, 2022 (Tuesday) at 14:30 hrs and the mode of convening AGM will be video Conference/other audio visual means.”
Shares of LIC rose 2.33 per cent to close at Rs 692.50 apiece on BSE.