New Delhi. LIC’s IPO is going to come before March 31. The government has submitted a red herring prospectus to SEBI for disinvestment of LIC. According to the draft draft, LIC will divest its 5 per cent stake. The policyholder of LIC will get the benefit of reserve quota.
Customers taking one or two policies can participate in the IPO. Up to Rs 2 lakh per subscriber can be invested in IPO. If you are a policyholder of LIC and want to buy IPO, then definitely know these five things.
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Own demat account required
To apply for an IPO, the policyholder must have a demat account. No policyholder will be able to apply from the demat account of his spouse, son or relatives. After the discount, no policyholder will get shares worth more than Rs 2 lakh. Policyholder Non-Resident Indians (NRIs) will not get the benefit of reserved category.
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Only one chance in joint policy
If someone has taken the policy jointly, then only one of the two policyholders will be able to apply in the reserved category. The PAN number of the applicant for the IPO should be updated in the policy record. If the demat account is also joint then the applicant should be the first or primary account holder. If the policyholder is less than 18 years of age, the proposer can apply under the reserved category.
Record with LIC
To buy an IPO, it is necessary that the record of your policy is with LIC. If someone has bought the policy before submitting the draft document and got the bond letter later, then he can also buy the IPO. Those who buy the policy after February 13 will not be eligible.
Employees have many options
LIC has also reserved a part of the IPO for its employees. If someone also has an LIC policy, then he can also apply separately as an employee, policy reservation and retail investor. LIC has clarified that all the three applications made by such investors will be valid.
no lock-in period
There will be no lock-in period for the policyholders applying for the IPO. Policyholders will be able to sell their equity shares after the IPO is listed on the stock exchange. Generally, the condition of lock-in period is applicable to some investors who invest in IPOs.
Tags: IPO, LIC IPO
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