Folks of India expect the IPO of India’s Largest Life Insurance coverage Participant- Life Insurance coverage Company of India(LIC). It filed the Draft Pink Herring Prospectus(DRHP) with SEBI on February 13, 2022. Now, allow us to stroll by a couple of updates on this much-awaited IPO.
LIC Coverage to be linked with PAN:
The policyholders should hyperlink their insurance policies with their PAN card on or earlier than February 28, 2022.
The entire allocation worth to a policyholder can not exceed the restrict of Rs. 2,00,000 after the low cost.
The provide supplied consists of a internet provide, worker reservation, and policyholder reservation.
NRIs(Non-Resident Indians) can make investments on this IPO however they’ll apply solely beneath the retail class. They won’t be eligible to use beneath the policyholder class even when they maintain LIC insurance policies.
Within the case of insurance policies within the identify of a minor, the proposer of the coverage can apply beneath the policyholder class.
LIC offers a possibility for its workers to use for the IPO beneath the worker class. If the worker has a coverage, then she or he can even apply beneath the policyholder class however she or he can not bid beneath the non-institutional portion.
A number of Bids:
If a person applies beneath all of the classes (Policyholder, worker, retail & non-institutional) then solely the worker and policyholder class functions will likely be thought of and the opposite two classes will likely be rejected as a number of bids.
If two folks share a LIC coverage(joint), just one amongst them can apply for the IPO beneath the policyholder class. The person making use of for the IPO should hyperlink his or her PAN with the coverage. Additionally, if they’ve a joint Demat account, the person making use of must be the first holder of the Demat account.
There is no such thing as a lock-in interval for the IPO which suggests the people can promote their shares instantly on the itemizing if they want.
What are the eligibility standards for the policyholder class?
- A person ought to have began the coverage on or earlier than the date of the submitting of DRHP (i.e) February 13, 2022.
- The coverage should be lively and it shouldn’t be faraway from the database in any means reminiscent of maturity, give up, or demise claims on the provide issuing date.
- Nominees beneath the insurance policies should not eligible to use beneath the policyholder class.
Prepare for one of many greatest IPOs in India. If you happen to haven’t linked your PAN card along with your LIC insurance policies but, click on the button under to get them linked.
Different articles chances are you’ll like
Put up Views: