INSUBCONTINENT EXCLUSIVE:
LIC has asked policyholders to update their PAN details for participating in the IPOMumbai: Life Insurance Corporation of India (LIC) has
for participating in its upcoming public issue, according to the draft red herring prospectus (DRHP).On February 13, the state-run insurer
crore.The initial public offering (IPO) of over 31.6 crore shares or 5 per cent government stake is likely to hit the market in March and
employees and policyholders of the insurance behemoth would get a discount over the floor price."A policyholder of our Corporation shall
28, 2022) shall not be considered as an eligible policyholder," as per the DRHP
or more policies of LIC as on the date of the DRHP and opening date and those who are residents of India would be eligible to apply for the
There is no fresh issue of shares by LIC
The government holds 100 per cent stake or over 632.49 crore shares in LIC
The face value of shares is Rs 10 apiece
Once listed, LIC's market valuation would be comparable to top companies like RIL and TCS
