Interesting to see subdued foreign interest in the LIC IPO
Source: Exchange Filing of Life Insurance Corporation of India
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LIC IPO: Atma Nirbhar Anchoring
Author: Raoji
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Linkfest: 03 May, 2022
Some stuff I am reading today morning:
Adani Wilmar is the largest FMCG co in India (BT)
How to bid for the LIC IPO (MC)
Record loan sales at HDFC (Rediff)
Thread: Mayur Uniquoters (Value Educator)
Investors also to blame for CG issues at startups (Anand Lunia)
Startup: ElasticRun (Forbes)
Content isn’t King (Ben Evans)
Let them eat cake (Convexity Maven)
What we’re seeing is the bursting of the bubble (Rob Arnott)
Commodity Chokepoints (Credit Suisse)
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Not a Good Sign
I think retail is a very big participant in these markets. Whenever retail participation is very high, it is not a good sign. In stock markets, the majority is seldom right over long periods.
If you look at the retail flow of savings into equities, roughly $40 billion a year is coming to mutual funds. Maybe, $15 billion net flows into the insurance industry and another $10-15 billion is coming through the EPFO and the NPS. If you assume direct participation in stocks to be another $10-15 billion, it adds up to $80- 100 billion per year.
India’s pool of household financial savings is about $300-350 billion; 10% of the GDP. This suggests that almost 30% of household financial savings is now getting into equities
–said Prashant Jain, CIO, HDFC AMC
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L&T FH: Lakshya 2026
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