Ambareesh wants JD(S) govt in Karnataka: H D Kumaraswamy

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Vijayapura, June 18: Shoukat Ali Sumbad, a local farmer, has donated land for the construction of Chennamma memorial, modelled on the Kittur fort, at Sindagi town in Vijayapura to celebrate the town's connect with the valorous Lingayat queen who fought the British in 1824.

Basava Jaya Mrutyunjaya Swamiji of Lingayat Panchamasali Peetha Kudala Sangam said Shoukat Ali came forward to donate his land adjacent to the state highway when local authorities failed to provide land for the memorial. 

"The committee led by Basava Jaya Mrutyunjaya Swamiji sought a 15x10 plot but when I went through their plan of constructing a model of Kittur fort, I decided to donate 425 sq ft," said the 61-year-old farmer. 

"Rani Chennamma is the pride of every Indian, irrespective of caste and creed, and my contribution is nothing compared to her sacrifice for the nation," he added.

Shoukat Ali, who lives in the neighbouring town of Almel, said he is a man of modest means but proud to make the contribution. "I own nine acres of land in Almel. I have six sons and two daughters. Two of my sons run small businesses in Mumbai. Ten of us live in a small house in Almel," he said.

“I also work as a broker to sell or buy sites. I had bought 15 guntas of land in Sindagi for my children some 15 years ago. When our MLA MC Managuli and Swamiji sought land for the memorial, my entire family agreed wholeheartedly” Shoukat Ali said.

“As Chennamma’s history is linked to Sindagi, there has been a demand for a memorial here since 2008, but the town municipal council failed to provide land due to political and technical reasons,” said Swamiji. 

“There were plans to observe a Sindagi bandh in the first week of June to protest the indifference of authorities. But then Sumbad gave us his land. We have formed a committee to construct a model of Kittur fort and a bronze statue of Chennamma at a cost of Rs 28 lakh,” he added.

Bengaluru, Mar 14: Infosys carried out evacuation at one of its satellite offices here on Friday after an employee came in contact with a suspected case of COVID-19, according to the company.

"We have taken a decision to evacuate one of our satellite buildings in Bengaluru as a precautionary measure, as one of our employees had been in contact with an individual with suspected COVID-19," the company said in its statement.

"Employees have been directed to work from home, and there is no impact on our client deliverables as a result of this temporary evacuation," it added.

On the other hand, Google also informed media on Friday that an employee at its Bengaluru office has tested positive for the COVID-19 and the firm has directed all its employees in that office to work from home as a precautionary measure.

"We can confirm that an employee from our Bangalore office has been diagnosed with COVID-19. They were in one of our Bangalore offices for a few hours before developing any symptoms. The employee has been on quarantine since then," Google had said in a statement. The search engine giant has asked colleagues who were in close contact with the employee to quarantine themselves and monitor their health.

The World Health Organisation (WHO) has declared the coronavirus outbreak a pandemic.

Coronavirus, which originated in the Wuhan city of China, has so far spread to more than 100 countries infecting over 1,20,000 people. India has reported two deaths and 82 confirmed cases of the deadly coronavirus.

The World Health Organisation (WHO) had declared the coronavirus outbreak a 'pandemic' and expressed deep concern.