Biggest IPO About To Launch

The biggest IPO by India's biggest insurance company LIC is about to launch. 

The country's largest insurance company is preparing for the biggest IPO. It is believed that its issue can open on March 10.

10% Reserve For Policyholders

LIC has reserved 10% for its policyholders in the IPO. That is, those who have a policy in the issue of Rs 65 thousand crores, they can get shares worth Rs 6,500 crore.

New Policyholders Can Also Participate

All policies which have not been taken out of our records by way of maturity, surrender or death of the policyholder are eligible for reservation under Policyholder Reservation Portion? Even new LIC policy holders are eligible to bid in the IPO process under the reserve share.

5% Share Will Be Sold

Last week, the government submitted the draft DRHP to capital markets regulator SEBI for sale of 5% stake in Life Insurance Corporation (LIC).

Two Things Are Necessary

These are the two things that policy holders need to do to apply for an IPO.  1. The PAN card of the policy holder should be updated on the LIC portal.

Second Thing

2. The policyholder should have a Demat account. According to DRHP, policyholders who do not update their PAN before February 28, 2022, will not be able to participate in this IPO.

Many People's Policies Are Discontinued

LIC's policy of many people gets closed. There are many reasons for this. You don't pay premiums on time or you forget the policy halfway through. Such policies are closed.