LIC IPO: The awaited IPO from the government-managed insurance giant, Life Insurance Corporation, will be opened on May 4 and closed on May 9, said the source. At the IPO, staff and policy holders will receive discounts. According to LIC DRHP submitted to Sebi, up to 10 percent will be reserved for LIC policy holders who meet the requirements under the policyholder reservation section. Lic is likely to make a formal announcement about Lic IPO today because it has invited the media to a press conference at 12:30 pm.
The following are things that must be known by policyholders who want to invest in IPO LIC through the policyholder reservation section.
Lic IPO: Price and Discount Band
The price of the price for IPO LIC is determined at RS 902 to RS 949, with a discount of RS 60 for Policy Holder, CNBC TV18 which was studied from government sources on April 26. For retail and employees, the discount will become RS 40, Privy Privy people for development told The News Channel.
LIC IPO: Mandatory Demat Account
If you are a LIC policy holder who is interested in participating in the inaugural public offering that is anticipated by insurance companies (IPO), you must ensure that your PAN information is the latest in the LIC system and that you have a demat account.
According to LIC DRHP submitted to Sebi, the policy holder who did not renew the pan before February 28, 2022 would not be eligible to participate in his IPO under the section provided for the policyholder. According to Lic Dr. Dr. Policyholders who have not updated the details of the pan with our company before the end of two weeks from the date of submission of the Red Herring Prospectus draft with Sebi (MIS., On February 28, 2022) will not be considered as a policy holder who meets the requirements that meet the requirements. “
Are policyholders with traffic jams to meet the requirements for discounts?
Through the policyholder reservation section, the policyholder with the LIP policy that can be used up can apply to shares in the Prime Public Offering (IPO). All policies that have not yet come out of the LIC notes due to maturity, submission, or death of the policyholder meets the requirements for reservations based on the policyholder reservation.
LIC IPO: Policyholder with a joint account
Meanwhile, the LIP policy holder with a joint account can participate in the upcoming IPO. However, only one of the two policyholders will be allowed to apply for shares under the policyholder reservation section.
LIC IPO: NRI Policy Holder
NRI cannot submit an IPO through the policy holder reservation department. Only someone who lives in India during the supply or offer period is qualified to submit an offer. In accordance with the FAQ section in LIC DRHP, “Are the NRI Policy Holders or other policyholders outside India can apply in the offer? No, only Indians can apply. “
LIC IPO: Group Policy
All policies other than group policies meet the requirements for the offer in the policy holder reservation department.
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