What is the issue size of LIC IPO?
LIC IPO issue size is an offer for sale of up to 316,249,885 equity shares.
WHAT IS LIC?
Life Insurance Corporation of India (LIC) has been providing life insurance in India for more than 65 years and is the largest life insurer in India. LIC was formed in 1956 by merging and nationalizing around 245 private life insurance companies.
It has a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of the number of individual policies issued, and an 81.1% market share in terms of the number of group policies issued for Fiscal 2021. It is also the largest asset manager in India. Until 2000, it was the only life insurance company in the country. LIC has a broad, diversified product portfolio covering various segments across individual products and group products. These include savings insurance products, term insurance products, health insurance products, annuity and pension products, and unit-linked insurance products.
Do Policyholders have a higher chance of IPO allotment?
LIC has reserved upto 10% of the offer for eligible policyholders- individuals having a policy that was issued anytime before 13 Feb 22. So chances of IPO allotment may be higher on applying as policyholder. Policyholders may also be allotted the shares at discounted price. Full details will be known after IPO date is announced.
Policyholders should link their LIC policy with their PAN on LIC website before 28 Feb '22. Along with that, to apply in an IPO they need a personal DEMAT account and UPI ID linked to personal bank account having sufficient funds.
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