What is IPO in LIC policy?

The Life Insurance Corporation (LIC) has asked its policyholders to update their PAN, so that they can participate in the proposed initial public offering (IPO). “In order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the Corporation’s records.

How can I get LIC IPO subscription?

If any policyholder is interested in subscribing to the LIC IPO, the individual needs to visit the official website of LIC. On the homepage, the individual has to select the ‘Online PAN Registration’ option. The next step is to provide email address, PAN, mobile number and LIC Policy number.

How can I buy LIC shares?

The Life Insurance Corporation of India (LIC) is set to sell its shares to common citizens in India. Apart from buying policies, pension schemes, and FDs from the public insurer, now people can buy shares of the company. To acquire LIC’s shares, one needs to update PAN and Demat account details, as LIC recently stated.

Is LIC listed in stock exchange?

LIC also plans to get listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For the unversed, LIC is India’s largest insurance company in the country and has assets of over Rs 34 lakh crore.

Is LIC going public?

The Union Cabinet recently approved the disinvestment of equity in LIC and the process is on to appoint merchant bankers to launch the IPO. A panel headed by Finance Minister Nirmala Sitharaman will decide on the size of the share sale. After the IPO, about 60\% of the insurance business will be with listed companies.

Is LIC IPO launched?

The Cabinet Committee on Economic Affairs had in July cleared the initial public offering proposal of LIC. Notably, in her Budget 2021 speech, FM Sitharaman said the IPO of LIC would be launched in the financial year beginning April 1. Currently, the government owns 100 per cent stake in LIC, the PTI report says.

What is the impact of LIC IPO on policyholders and employees?

With government selling not more than a 10\% stake in LIC, the government will still be the major stakeholder and there will be no change in its ownership. The IPO is not intending to have any impact on the policyholders and employees. Govt proposed LIC IPO in Union Budget for 2020-2021.

When is the target date for LIC IPO launch?

LIC IPO has been targeted to launch in the second half of the fiscal year 2020-21 The government has set the ball rolling to launch the IPO as soon as possible and preparations have started in full swing. An IPO process generally takes four to six months.

What is the expected date for the listlic IPO?

LIC IPO is likely to be expected by March 2021. An IPO process normally ranges between four to six months.

Why should you invest in LIC IPO 2020?

The government of India is planning to raise funds between Rs 80,000 to 1 lakh crore through this IPO. The LIC IPO 2020 offers a great opportunity to retail investors and employees to invest in the company for the long term as well as making quick listing day gains.