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The state-owned insurer is grappling with a solvency shortfall of 8,000 crore, with its solvency margin dropping to negative 0.49%, far below the regulatory minimum of 1.5%.
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Aditya Birla Sun Life Asset Management Company surged 11.5% to end at 779, UTI AMC rose 7.6% to 1,326, HDFC AMC gained 5.8% to 4,833 and Nippon Life India AMC advanced 2% to 721.
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The non-institutional investor (NII) portion, primarily high-net-worth individuals, was subscribed 0.26 times, while the retail investor portion saw a subscription of 0.38 times. The employee reserved portion, offered at a discount of Rs 186 per share, was oversubscribed at 1.31 times (130%). Meanwhile, the qualified institutional buyer (QIB) portion was subscribed 0.58 times.
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