Top 10 FAQs by the LIC policyholders on LIC IPO Answered Here

Top 10 FAQs by the LIC policyholders on LIC IPO Answered Here

Life Insurance Corporation of India (LIC) is a government-owned insurance provider and is the largest in India, and fifth-largest in the world. The insurance provider has been in the news for a long time now owing to its plans for IPO.
The government that owns a 100% stake in the giant insurance corporation, has decided to sell its 5% stake to the public via Initial Public Offering (IPO). The LIC IPO that is being evaluated to be of around Rs. 65,400 crores will be the biggest of this time.

Here is a list of the top 10 frequently asked questions by LIC Policyholders about LIC IPO answered for you:

1) When is the LIC IPO expected to open?
The LIC IPO is expected to open from March 11, 2022 to March 14, 2022.

2) What is the expected price band for LIC IPO?
The price band is expected to be around Rs. 1,900 to Rs. 2,200.

3) How much can a retail investor apply for LIC IPO?
A retail investor or a policyholder can apply for shares worth not more than Rs. 2,00,000. You can opt to apply in the Non-Institutional Category to apply for more.

4) Is there a reservation for employees and LIC policyholders?
LIC IPO is expected to be reserved for the LIC policyholders and employees for up to 10% of the issue amount.

5) Is there a discount on the issue price for employees and LIC policyholders?
LIC policyholders and employees of LIC are also expected to get a discount of 10% if applying through the policyholder's category.

6) Who is eligible to apply as a LIC policyholder?
All the LIC policyholders who have taken the policy on or before 13 February 2022, and get their PAN linked with the policy on or before 28 February 2022, can apply for the LIC IPO under the policyholder's category.

7) Can NRI LIC policyholders also apply for LIC IPO under the policyholder's category?
No, the NRI LIC policyholders or the LIC policyholders residing outside India will not be eligible to apply for LIC IPO under the policyholder's category.

8) How can one check if PAN is linked with the LIC policy?
You can visit the official website of LIC to check if the PAN is linked with your policy. You will require your policy number, PAN, and date of birth to check.

9) How can one link policy with PAN?
You will be redirected to a new page once you fill in the details as mentioned above. If your PAN is not linked with the policy you will get a tab to select to link your PAN online.
You will require your Policy number, email id, contact number, PAN, and date of birth to link your PAN to your policy by LIC.

10) Can one apply to LIC IPO from any Demat Account under the LIC policyholders category?
To apply under the LIC policyholders category, your Demat Account should have the same PAN linked as with the policy.