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This may be the first after a three year gap that top executives from financial services are taking a plunge into entrepreneurship after former Deutsche Bank executives like Bhupinder Singh of and Gunit Chadha who floated non-banking finance companies including InCred and APAC Financial.

The mood in the primary market is not generic; only selective companies will have demand, said bankers. "Liquidity is not an issue, but demand is only for selective companies with unique business and sold at decent valuations," said Dharmesh Mehta, MD of DAM Capital.

LIC is currently commanding a premium of Rs 85 per share in the grey market, about 9% more than its price band of Rs 902-949 per share. Though the premium has declined to Rs 85 a share from Rs 90 in the past two days, it is still substantial given the large discount being offered to employees as well as policyholders.

Revenues from operations in the period under consideration fell 14.6% to Rs 7421.73 crore from Rs 8685.97 crore earlier. Total expenses last quarter stood at Rs 6759.28 crore, which is a decline of 11.6% over Rs 7644.23 crore registered in Q4FY21. Ebitda (Earnings before interest, tax, depreciation and amortisation) margin for the quarter was 11.2%.

These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed on Monday.

Delhivery’s IPO is opening for subscription a day after the close of LIC’s share sale window.

The lender reported a 54% rise in net profit for the quarter to March 31 at Rs 48 crore against Rs 31 crore in the year-ago period.

According to its DRHP, the stake sale will entirely consist of the issuance of 1,64,52,000 fresh equity shares, with a face value of Rs 10 each.

Total revenue increased to Rs 2,654 crore in the quarter under review from Rs 1,614 crore in the same period a year ago.

In a separate filing, the company said it has executed a Share Subscription Agreement (SSA) on Monday with Green Energy Investment Holding RSC Ltd for the issuance and allotment of 2,00,18,198 equity shares of face value of Rs 10 each of the company to the investor on preferential basis.