All the policyholders are curious to know about How To Apply For LIC IPO for Policyholders. It was earlier said that Policyholders will get extra benefits in this IPO. So to know all the details about this IPO launch all the people are searching all over the internet. Due to this, we decided to bring a separate guide for you containing all the information related to LIC IPO.
Here in this article, we will cover all the details related to How To Apply For LIC IPO for Policyholders, All the details about the IPO. Like, When it is going to launch, What will be the price of each share and much more. So without any further delay read this article.
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LIC is an Indian insurance and investment corporation and its headquarter is situated in the city of Mumbai. Currently, It is beneath the right of the Government of India. LIC stands for Life Insurance company of India which stands for Life Insurance Corporation Of India it was established on 1 September 1956 and then the government of India passed a deed and then nationalise this association.
Life Insurance Corporation of India had a total life fund of ₹28.3 trillion. This insurance company has given a lot of profits to its policyholders and also to its agents. Now all the policyholders want to know How To Apply For LIC IPO for Policyholders.
How To Apply For LIC IPO for Policyholders?
If you are a policyholder of LIC and interested in this IPO then there are few things which you must know. All the policyholder of the LIC must have linked their Permanent Account Number (PAN) with their LIC policy. According to the official statement of LIC
“A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before the expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28, 2022) shall not be considered as an Eligible Policyholder. This is the official statement of LIC”.
The second thing which you should know in that you have a demat account which sould be attach with the same PAN which is in your LIC Policy.
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LIC IPO Launch Date
After revealing all the points regarding How To Apply For LIC IPO for Policyholders. Here is the launch date of this IPO. It is going to launch on 4 May 2022 and the window will close on 9 May. For anchor investors, the window will open on 2 May.
- The share price has been fixed by the company which will be Rs 902-949 per share. The bid lot is 15 shares.
- For the policyholders, LIC has reserved 10% of its shares, and a discount of RS 60 for them. and 0.7% shares are reserved for its LIC employees and there will be an additional discount of RS 40.
- The size of this IPO is around 20,557 crore and the government is going to dilute 3.5 shares.
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We are wrapping up this article with the expectation that you have got all details related to the How To Apply For LIC IPO for Policyholders. These details like what will be the price of each share and the size of each band, When this IPO is going to launch and the benefit which policyholders will get in this IPO and much more. If you have any questions related to this How To Apply For LIC IPO for Policyholders in your mind, you can ask us in the comment section below. We are here to assist you in the best possible way.