Know About The 5 things policyholders Must Know Before The LIC IPO

Know About The 5 things policyholders Must Know Before The LIC IPO
Tags: LIC LIC IPO

The Life Insurance Corporation (LIC) will send off its underlying public proposition (IPO) on May 4, Wednesday. The issue will close on May 9, Monday, expressed the guarantor's administration during a public interview. In the IPO, staff and policyholders will get a rebate. As per the LIC DRHP documented with Sebi, up to 10 percent will be held for qualified LIC policyholders under the Policyholder Reservation Portion.

NRI LIC policyholders

Under the Policyholder Reservation Portion, LIC has set to the side up to 10% of the offers sold in its IPO for its policyholders and plans to offer a markdown to these financial backers also.

NRI policyholders and different policyholders who don't live in India are not qualified to apply for the Policyholder Reservation Portion. According to the FAQ area in the LIC DRHP, "Whether NRI policyholders or different policyholders dwelling out of India can apply in the Offer? No, main inhabitant Indians can apply."

Demat account is a must

Assuming you are a LIC policyholder keen on taking part in the safety net provider's expected first sale of stock (IPO), you should guarantee that your PAN data is current in LIC's frameworks and that you have a Demat account. The LIC distributed a notice in driving papers empowering policyholders to refresh their Permanent Account Number (PAN) subtleties and open Demat accounts to partake in the expected first sale of stock.

LIC policyholders slipped by strategy

Through the policyholder Reservation Portion, policyholders with slipped by LIC arrangements can apply for shares in the LIC's first sale of stock (IPO). All strategies that poor person left LIC records because of development, give up, or the policyholder's passing is qualified for reservation under the Policyholder Reservation.

Join LIC policyholders

Under the Policyholder Reservation Portion classification, only one of the two can apply for Equity Shares. In the protection records, the PAN number of the candidate Bidding in the Offer (you or your companion) should be altered. The candidate should have a Demat account in their own name, and on the off chance that the record is joint, the candidate should be the first/essential record holder. Click here to understand more.

LIC policyholder under bunch strategy

All strategies other than bunch approaches fit the bill for Bidding in the Policyholder Reservation Portion. As indicated by LIC DRHP FAQ, "I'm having a Pradhan Mantri Vaya Vandana Yojana strategy. Whether I qualified to apply for the Equity Shares of the Corporation in the Offer?

Image Credit: Mint

 

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