LIC IPO: LIC IPO will come soon, documents submitted to SEBI

To participate in LIC IPO, policyholders will have to update PAN by this date, otherwise they will not get shares

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New Delhi . There is a lot of enthusiasm among investors as well as its policyholders regarding LIC IPO. In this country’s largest IPO, 10 percent stake is reserved for policyholders. So the chances of getting shares are high for them. But for this they have to settle some work in advance. LIC has asked its policyholders to update their PAN in the policy records by February 28.

LIC had filed a draft letter with capital markets regulator SEBI on February 13. The government will sell its 5 percent stake in this IPO for an estimated Rs 63,000 crore.

PAN updation on LIC website
The initial public offering (IPO) of over 316 crore shares or 5 per cent government stake is likely to hit the market in March. Insurance sector employees and policyholders will get a discount on the floor price. The company has said that a policyholder of our corporation shall ensure that his/her PAN details are updated in the policy records of our corporation at the earliest. So that he can take advantage of his reserve share in this IPO.

Also read- LIC IPO: Before investing in the biggest IPO, keep these risks in mind, otherwise there will be a big loss, know full details
Those who are not able to update PAN within the stipulated time will not be able to get this benefit. PAN updation can be done directly on LIC’s website or with the help of agents.

Over 632.49 crore shares
LIC issued about 2.10 crore individual policies in FY 2021. This IPO is an offer for sale (OFS) by the Government of India. There is no fresh issue of shares by LIC. The government has 100 percent stake or more than 632.49 crore shares in LIC. The face value of the shares is Rs 10 per share.

LIC Public Issue will be the biggest IPO in the history of Indian stock market. Once listed, the market valuation of LIC will be at par with top companies like RIL and TCS. LIC’s IPO is expected to come by March and this proceeds will be crucial to meet the revised disinvestment target of Rs 78,000 crore in the current financial year.

Tags: IPO, LIC IPO, Share market, IPO

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