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What is LIC IPO's PolicyHolder Category? Know all the Answers Here

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LIC IPO, which is being said as the biggest IPO launch in the history of India is a point of talk among the investors, whether it's small or the big bull. LIC IPO is big, the reason is its size. LIC is the country's biggest insurance provider, founded in the year 1956. It is an Indian statutory insurance and investment corporation under the ownership of the Ministry of Finance, Government of India. It is the only government-owned insurance provider in the country.

 

The LIC IPO launch/bidding date is tentative. The company is yet to clarify the details about IPO such as Minimum Investment required, Lot size, Price Range, and Issue size. However, it is expected to launch in the 4th quarter of the financial year 2020-21. However, the pre-IPO process is already underway.

Why is LIC IPO is big deal in the Indian Capital market?

Why is LIC IPO is big deal in the Indian Capital market?

M R Kumar, chairman of LIC, said in an interview LIC IPO to transform the entire Indian capital market. But what makes it such a big deal? The answer lies in its data numbers. LIC has around 13.53 lakh agents, which is more than combines a total of 20 private life insurance agents in the country.

The company has around 1.14 lakh employees in the country. The company also operates through foreign branches in Fiji, Mauritius, and the UK. The policy company offers comes in a variety. LIC has a market share of around 69%, in the insurance space.

LIC is not just an insurance provider in the country. They have other businesses as well in lines such as LIC Housing Finance, LIC Pension Fund, LIC Mutual Fund, and LIC Card Services. The company is also a majority shareholder in the IDBI bank

What is the LIC IPO Policyholder Category Announced by the Government of India?
 

What is the LIC IPO Policyholder Category Announced by the Government of India?

The policyholder here means those customers who hold a policy/scheme of LIC. Customers of LIC are defined as Policyholder here. Over and above the retail application, policyholders will have the option to invest individually in the said category. This would improve their prospects of receiving a share of the offering. The application process for this category is simple. All you have to do is choose the policyholder category and submit your offer. This category will be evaluated for your submission.

Points to be Noted

1. The Government of India announced that policyholders of LIC schemes will be entitled to up to 10% of the issue size in the LIC IPO.

2.LIC policyholders will be entitled to apply for this category's IPO up to a maximum of Rs 2,00,000.

3. Eligible users can apply for the IPO under the 'Policyholders Category.'

4. In the LIC IPO, a user can apply under the Policyholder category in addition to the usual category. In this instance, the users will have to choose between two different applications.

LIC IPO under Policyholder Category

LIC IPO under Policyholder Category

Eligibility

The eligibility criteria for applying for LIC IPO under the Policyholder category is simple and easy. All you have to ensure following:

1. Your PAN Card number has to be updated in the LIC records.

2. The PAN Card used for LIC policies has to be the same as that registered with the Demat Account registered with the broker such as PayTM Money, Groww, Zerodha etc.

Note- For assistance, you can visit the LIC agent.

Steps to apply for the LIC IPO under the Policyholder Category

1. Choose LIC from the list of initial public offerings.

2. Go to the IPO information page.

3. Select "Policyholder" from the drop-down menu and click "Apply Now."

4. Fill out the bid form and submit it.

5. Following the submission, you will receive a mandate from the sponsor bank.

6. Following your acceptance of the mandate, your application will be approved.

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