LIC IPO Updates
Swastika comes with the fresh information of Life Insurance Corporation of India’s initial public offering (IPO) which will hit the market next month. Here, we will discuss the latest LIC IPO Updates including issue, closing, allotment date and more.
The IPO comprises over 31.6 crore shares or five per cent of the government’s stake in the insurance behemoth.
India is all set to launch the country’s largest-ever public offering, as the state-run Life Insurance Corporation of India (LIC) filed a Draft Red Herring Prospectus (DRHP) with the SEBI for selling a five per cent stake by the government.
Employees and policyholders of the insurance giant would get a discount over the floor price.
For this, it is mandatory that the policy should have been issued on or before February 13, 2022. Investors must link PAN to the policy by February 28, 2022
About LIC IPO Latest Information February 2022
|LIC IPO Price Band||Coming soon|
|LIC IPO Date||Coming soon|
|Offer For Sale||316,249,885 shares|
|Total IPO size||316,249,885 shares|
|Face Value||INR 10 per share|
|Minimum bid (lot size)||Coming soon|
|Listing On||NSE, BSE|
How many Shares in LIC IPO are Reserved for HNIs and Retail Investors?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
Of which, 50 percent will go to retail investors, 15 percent to non-institutional investors (NII) and 35 percent to qualified institutional buyers (QIB).
Recent Updates For LIC Policyholders
If a policyholder does not update PAN details by February 28, 2022, they will not be eligible for availing the reserved shares of LIC’s IPO.
A policyholder shall ensure that their PAN details are updated in the policy records of LIC at the earliest.
How to Apply for a LIC IPO?
To get the benefit of a discount on the price of LIC IPO. LIC policyholders Should link your Pan Card with Policy; the following are the steps to link your Pan.
How to Update PAN details on the LIC Website
- Visit the official LIC website https://licindia.in/ Or Link your policy with PAN directly https://linkpan.licindia.in/UIDSeedingWebApp/
- Select the ‘Online PAN Registration’ option from the home page.
- Tap the ‘Proceed’ button on the Online PAN Registration page.
- Provide your correct email address, PAN, mobile number, and LIC policy number.
- Enter the Captcha code in the box.
- Click on ‘Get OTP’
- Once you’ve received the OTP, input the OTP digits into the space provided for it on the port.
- LIC Versus Indian Peers
Life Insurance Corporation of India (LIC) continues to be the market leader, with a 66% share in the overall life insurance market, followed by HDFC
Life Insurance at 9.8%, ICICI Prudential Life Insurance at 8.4%, Aditya Birla Sun Life Insurance at 5.4% and SBI Life Insurance at 4.2%.
“It is not surprising that LIC has maintained its leadership position amid the Covid-induced crisis,” said Madan Sabnavis, chief economist at CARE Ratings Ltd., “due to its vast network across India and strong brand recall among customers.”
Indian Govt plans to tap around 180 investors in mega roadshows of LIC
For the roadshows of Life Insurance Corporation of India’s (LIC’s) listing, the government will approach large investors who have not yet anchored any initial public offering (IPO) and those who focus only on large public offerings, officials in the know said.
In an effort to connect with more than 180 investors, government officials have started virtual roadshows.
The roadshows are part of the government’s preparations for the biggest-ever public listing in India.
The government wants to make sure that there is a good spread among anchor investors and it is not just limited to a few big names.
The Government of India is approaching new investors as well.
LIC IPO is going to be the biggest IPO in India.