LIC Initial public offering: Life Insurance Corporation of India (LIC) has presented the Draft Red Herring Prospectus (DRHP) at SEBI (Securities and Exchange Board of India). The DRHP illuminates that through this public issue, Government of India (GoI) plans to sell its 5% stake in the organization. The DRHP further clears that 35% of the public deal will be held for retail financial backers, 5% will be saved for LIC workers though 10% of the public issue will stay saved for its policyholders. Thus, a LIC policyholder will actually want to apply in both retail and policyholder classification. Nonetheless, there are a few significant subtleties for LIC policyholders that they should know before the LIC membership opening date, LIC IPO cost and keep away from chances of dismissal of its application.
1] Eligibility of LIC policyholders: The LIC of India presented its DRHP on thirteenth February 2022. In this way, those extra security policyholders who got LIC strategy prior to thirteenth February 2022 will be qualified for applying under the policyholders’ class. The individuals who have purchased LIC strategy after thirteenth February cannot get advantage of 10% standard for policyholders.
2] PAN interface with LIC strategy: Those LIC policyholders who need to guarantee 10% saved share benefit for policyholders, they are encouraged to check whether or not their approach is cultivated with their PAN. On the off chance that, their PAN isn’t connected with their LIC strategy, their application will be dismissed assuming they apply under the policyholders’ class for the LIC IPO cost.
3] Rule for joint arrangement holders: “in the event of joint policyholders, the two policyholders are safeguarded and consequently, the two of them can apply independently under the policyholders quantity on same approach gave both have separate Demat account,” Anuj Gupta, Vice President at IIFL Securities said.
4] Joint Demat account: “One Initial public offering application can be sent from one Demat account. If there should arise an occurrence of LIC policyholder, who possesses a joint Demat record, the person is encouraged to check whether or not it is essential Demat account holder. Auxiliary Demat account holders will not have the option to apply for LIC IPO under policyholders’ classification,” Anuj Gupta of IIFL Securities said.
5] Which policyholders can apply under 10% amount: Other than bunch strategy, all policyholders are qualified to apply under policyholders’ class gave them satisfy different necessities. Aside from this, NRIs having LIC strategy will not have the option to apply under standard held for policyholders and there will be no lock-in period for allottees, who applied under policyholders’ class.
In this way, LIC policyholders reflecting to apply for LIC IPO costare encouraged to check strategy PAN interface status online at direct LIC connect – linkpan.licindia.in/UID Seeding WebApp/get Policy PAN Status. On the off chance that, a policyholders PAN isn’t connected with its LIC strategy, the person in question can interface them online by signing in at the LIC interface – linkpan.licindia.in/UIDSeedingWebApp. Notwithstanding, a policyholder should recollect that the last date for PAN strategy interface is 28th February 2022. LIC policyholders connecting their approach with their PAN after this given cut-off time will not be qualified for guaranteeing 10% portion held for policyholders.