Update on the LIC Initial Public Offering (IPO): If you have a LIC policy, this is really good news for you. For LIC policyholders, the government has devised a specific strategy. This strategy is linked to LIC’s initial public offering (IPO). Finance Minister Nirmala Sitharaman stated in her budget presentation on February 1, 2022, that the LIC’s initial public offering (IPO) will take place shortly. It has since picked up speed.
By the end of March, the IPO will be ready.
The government submitted a draught document to the market regulator SEBI on Sunday for the LIC IPO. By the end of March, the IPO is scheduled to be on the market. According to the draught, a portion of the money will be held in reserve for policyholders. According to the draught, the government will sell 31.6 crore shares of LIC through an initial public offering (IPO) out of a total of 632 crore shares.
Equity will be used to sell 5% of the shares.
Previously, it was thought that the government would sell 10% of the entire shares on the stock market. However, the issue has become evident since the draught. According to the draught, 10% of the 31.6 crores (5%) shares will be reserved for LIC policyholders. In other words, 3.16 crore shares have been set aside for policyholders.
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Before, there was talk of making a reservation.
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), has clarified that LIC policyholders will be given priority in the initial public offering (IPO).
In an IPO, the term “reservation” has a specific meaning.
Obtaining a reservation in LIC’s initial public offering means that policyholders will have a better chance of receiving shares in the IPO. Those who already have a LIC policy will be eligible to claim in the IPO lot as part of this reservation.
