LIC IPO Update: Since the announcement of the Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC), 6.48 policyholders of LIC have proven nice curiosity in shopping for shares of this nation’s largest insurance coverage firm.

Rahul Jain, Director, Department of Investment and Public Asset Management (DIPAM), below the Ministry of Finance, stated, “There has been an awesome response to the IPO. Some of the figures we’ve, comparable to 6.48 crore policyholders have accomplished the deadline (February 28, 2022). ) have linked your PAN quantity with the coverage particulars.

LIC has fastened a value vary of Rs 902-949 per share for its Rs 21,000 crore IPO. Ten % reservation will likely be given to its policyholders.

“Irrespective of the policyholders, if they have added their PAN card details in the policy details by February 28, they can participate in LIC IPO through the reserved category,” Jain stated.

DIPAM Director stated that any policyholder can make investments as much as Rs 2 lakh within the reserved class, as much as Rs 2 lakh within the retail class as effectively. LIC policyholders will get a reduction of Rs 60 within the IPO. Jain stated that these 6.48 lakh policyholders can take part within the IPO, offered they open a demat account.

The firm’s IPO will open on May 4 and shut on May 9. Bids might be positioned in a number of 15 shares.