LIC IPO Update: If you have any policy of LIC then this news is especially for you. The government has prepared a special plan for LIC policy holders. This plan is related to LIC’s IPO.
New Delhi: LIC IPO Update: If you have any policy of LIC then this news is especially for you. The government has prepared a special plan for LIC policy holders. This plan is related to LIC’s IPO. In the budget presented on February 1, 2022, Finance Minister Nirmala Sitharaman had said that LIC’s IPO will come soon. After that it has accelerated.
IPO will come by the end of March
The government on Sunday filed a draft document for the IPO of LIC with the market regulator SEBI. The IPO is expected to hit the market by the end of March. According to the draft, a part is being kept in reserve for the policy holders. According to the draft, out of the total 632 crore shares of LIC, the government will sell 5 percent of the shares i.e. 31.6 crore shares through IPO.
5 percent shares to be sold through equity
Earlier it was being speculated that the government would sell 10 percent of the total shares through equity. But after the draft, the situation has become clear. According to the draft, out of 31.6 crore (5 percent) shares, 10 percent of the share is set to be kept for LIC policy holders. That is, 3.16 crore shares have been kept in reserve for the policy holders.
There was talk of reservation before
Recently, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) had also clarified that LIC policy holders are going to get reservation in IPO.
Meaning of reservation in IPO
Getting reservation in LIC’s IPO means that the policy holders will have more hope of getting shares in the IPO. That is, those who already have the policy of LIC, they will be entitled to claim in the IPO lot under this reservation.
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