LIC IPO: Can LIC policyholder with lapsed policy also apply for IPO?

Buyers of new LIC policies are also eligible to bid in the IPO process under the portion reserved for the policyholders.

LIC policyholders can get a discount of 5 percent in the issue price.

Life Insurance Corporation of India (LICIPO of (LIC IPO) may open for subscription on the 10th of the next month. The issue is likely to close on March 14. 10% stake in LIC IPO will be reserved for policyholders. LIC policyholders can get a discount of 5 percent in the issue price. According to the draft red herring prospectus of LIC, lapsed policyholders can also apply for an IPO through the reserve portion. As per the draft paper, all those policyholders are entitled to get shares under reservation for the IPO which have not been taken out of LIC’s record due to maturity, surrender or death of the policyholder.

Last week, the government submitted a draft red herring prospectus (DRHP) with capital markets regulator SEBI for the sale of 5 per cent stake in Life Insurance Corporation of India. New LIC policyholders are also eligible to bid in the IPO process under the portion reserved for the policyholders.

economic times As per the report of LIC policyholders who have applied for LIC policy but have not yet received the policy document, the DRHP states about the policy to be entitled for reservation under the Policyholder Reservation Portion category. Must be issued on or before the date of filing and also should not be excluded on account of surrender, maturity or death claim on the date of Bid/Offer opening.

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