After months of delay due to various reasons, now finally the way has been cleared for the arrival of the country’s biggest IPO.
The IPO of state-run insurance company LIC is going to open for retail investors on May 4 and will be open for bidding till May 9. , The price band of Rs 902 to Rs 949 has been fixed for this Mega IPO of LIC. In this IPO, there will be 15 shares in one lot (LIC IPO Lot).
So much discount in LIC IPO
The company’s board has fixed a discount of Rs 45 for employees in LIC IPO and Rs 60 for policyholders of LIC. LIC IPO for Anchor Investors will open on 2 May only. The listing of LIC IPO in the stock market is going to happen on May 17.
Considering the market situation, the government has reduced the size of this IPO. Now the government is going to reduce its 3.5 percent stake in LIC. The government is planning to raise Rs 21 thousand crore through this IPO. Even after reducing the size, it is going to be the biggest IPO ever in the history of India.
Discount will also be available on lapse policy
If you have a LIC policy which has lapsed due to any reason, you can still avail the discount in the IPO. LIC has tried to address people’s questions in an FAQ regarding IPO. It has been told that one can apply for IPO even after the policy lapses. According to LIC, if a policy has not matured or has not been surrendered or the insured has not died, then the policyholder will get the benefit of reservation and discount.
They will get benefits on children’s policy
After the announcement of the discount, the question is also arising in the minds of the people that if there is a policy in the name of the children, then who will get the benefit of the discount on the IPO. In the quiz available on LIC’s website, it has been explained that in case of minor’s policy, the proposer is considered as the policy owner. In this way, whoever has proposed the policy, they are the policyholder and they can avail reservation and discount.
Exemption to any one in joint policy
One such question is that if there is a joint policy, will both the husband and wife get the benefit of reservation. In response to this, LIC has said that only one of the two policyholders can apply for the Reservation Portion. Other partners can apply for the general retail category. Among such policyholders who will apply in the reservation category, they will also get the benefit of discount.
Benefits will not be available on Group LIC policy
If you have a group policy of LIC, then you cannot avail reservation or discount in this IPO. LIC has clarified that policyholders of Group Policy will not be eligible for reservation in the upcoming IPO. This means that if you have received a group policy of LIC from your company, then you are not eligible to avail reservation and discount on the basis of this policy.
Such policyholders will also not get any benefit
The government insurance company has made it clear that Indian citizenship is necessary to take advantage of the discounts and reservations being given in the country’s biggest IPO.
As per the FAQ, policyholders who are NRIs or do not reside in India will not get the benefit of reservation and discount in the IPO. Barring these two categories, all other policyholders of LIC can take advantage of special discounts.Live TV
