In Budget 2021, Finance Minister Smt. Nirmala Sitharaman announced that the Life Insurance Corporation of India’s IPO (LIC IPO) will be completed in 2021.
If you are a customer of LIC which means policyholder, then know that this IPO can benefit you. It is such that a representative of the government has said that Government can hold a 10% share reserve for the LIC policyholders.
Over 1 Crore Demat Account to Open: Reports
The government is likely to reserve a 10 percent share for LIC policyholders in the public issue. On the other hand, as per the reports it is also expected that in the next 6-8 months more than 1 crore new Demat account will be opened.
Currently, there are around 25 Cr. LIC Policyholders and there are over 4.5 Cr. Demat account holders in the country. There is a sizeable chunk of LIC Policyholders who do not have a Demat account and because of the reservation of the policyholder, the Demat account will open.
Largest IPO of the Country
It is the largest insurance company in the country. Before selling a stake in LIC (Life insurance corporation of India), the government had sought applications from actuarial firms for its insurance valuation. The government plans to sell the stake in LIC and list it in the stock market. For this, Deloitte and SBI Capital have been appointed as advisors.
It will be the country’s largest IPO and expected to have an issue size of Rs. 70000 Cr. to 80000 Cr.
🎯 How to Apply for an IPO using Demat A/c
🎯 5 East way to check IPO status online
LIC IPO Date 2021
As per the Money Control Report, The Initial public offering of LIC may hit the market in the fourth quarter and the government has introduced amendments to the Life Insurance Corporation Act 1956 to facilitate this.
FAQs
-
Is LIC going for the IPO?
In Budget 2021, Finance Minister Smt. Nirmala Sitharaman announced that the Life Insurance Corporation of India’s IPO (LIC IPO) will be completed in 2021.
-
How can I get LIC IPO?
To apply for LIC IPO Shares, an investor has to open a Demat account/trading account with financial institutions that provide this facility. Most of the national Banks like ICICI, HDFC Bank, SBI, PNB, etc. and some popular stock brokers like Upstox, Angel Broking, etc. have the facility for Demat/trading a/c.
-
What will the price of the LIC IPO?
As per the latest report, it will be the country’s largest IPO and expected to have an issue size of Rs. 70000 Cr. to 80000 Cr.
-
Is LIC Listed in Stock Market?
No, to date the LIC is not listed in the stock market but expected to have the Initial Public offering of LIC in the fourth quarter of 2021
Join our Social Community
Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.
Feedback/Suggestion- Hope you all find it useful, please give your valuable feedback & let us know if there is an error. Thanks in Advance