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<ul><li>The life insurance major, <keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>, has a lot to offer to everyone, especially to its 29 crore policyholders in the IPO.</li><li><keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> is special to investors because it has a separate reservation quota for people holding LIC policies along with some discount on IPO floor price.</li><li>Here are answers to all your questions on how you can avail those benefits while applying for the IPO.</li></ul>Investors are eagerly waiting to get their hands on a piece of India’s largest life insurance company, which is about to launch the country's biggest initial public offering (IPO). More than that, the IPO is special for the 29 crore policyholders of the life insurer, who would be getting a preference on the shares. Here are answers to all your queries on how you can avail those benefits while applying for the IPO. <ol><li>When will the LIC IPO be launched? The IPO is expected to be completed within the end of March. </li><li>How to apply for LIC IPO? You need a demat account of your own from where you can subscribe to the LIC IPO. Click here for a step-by-step guide on how to open a demat account. </li><li>Who all are eligible to apply under the policyholder reservation quota? All policies that have not exited LIC’s records by way of maturity, surrender or by way of death of the policyholder are eligible for policyholder reservation.</li><li>What are the benefits of applying under the policyholder quota? LIC has reserved 10% of the issue size for its army of policyholders and also plans to give some discount to such investors on the issue price of the IPO.</li><li>Can senior citizens also apply for LIC IPO? Yes. Any person above 18 years of age can apply for this. The applicant should have a demat account and the PAN number should be linked with the policy. </li><li>Is there a maximum limit amount for policyholders to apply for the IPO? Investors holding LIC policy cannot exceed their investment more than ₹2 lakh as most of such investors also come under the retail category.</li><li>I hold a joint life insurance policy with my spouse, so can we both apply for policyholder reservation? No. If you own a joint policy of LIC, then only one of the policy members can apply under the ‘Policyholder Reservation Portion’ category.The PAN number of the applicant bidding in the offer (you or your spouse) needs to be updated while linking the PAN.The PAN number of the applicant bidding in the offer (you or your spouse) needs to be updated while linking the PAN.</li><li>Will there be any tax exemption if there is share allotment on investment in LIC IPO? No. Although there is a tax exemption for holding a LIC policy, there is none for investment in equities. </li><li>Will there be any lock-in period for selling the shares for policyholders ? Policyholders who were allotted equity shares under the reservation category can sell the shares anytime as per their choice.</li><li>If I bought an LIC policy last week, can I apply under the special policyholder quota? No. To apply under the special quota the policy should have been issued on or before the date when LIC’s draft red herring prospectus (DRHP) was filed, that is February 13.</li><li>Will those with the policy of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) also be eligible to invest under the policyholder reservation category? No, one cannot. </li></ol>

LIC IPO – All your doubts cleared

The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial pub<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">lic</keyword> offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the <keyword id="8699517" type="General" weightage="20" keywordseo="ipo-of-lic" source="Orion">IPO of LIC</keyword>," DIPAM Secretary Tuhin Kanta Pandey tweeted. The disinvestment department had invited applications for the appointment of merchant bankers on July 15. Following this, 16 merchant bankers made presentations for managing listing and partial disinvestment of Life Insurance Corporation (LIC). The Department of Investment and Public Asset Management (DIPAM) is also in the process of appointing a legal adviser for the stake sale and the last date for putting bids is September 16. Actuarial firm Milliman Advisors LLP India has already been appointed to assess the embedded value of LIC ahead of the IPO, which is likely in the January-March quarter of 2022. The government is also mulling allowing foreign investors to pick up stakes in the country's largest insurer LIC. As per Sebi (Securities and Exchange Board of India) rules, foreign portfolio investors (FPI) are permitted to buy shares in a public offer. However, since the LIC Act has no provision for foreign investments, there is a need to align the proposed <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> with Sebi norms regarding foreign investor participation. The Cabinet Committee on Economic Affairs had last month cleared the initial public offering proposal of Life Insurance Corp of India. The ministerial panel known as the Alternative Mechanism on strategic disinvestment will now decide on the quantum of stake to be divested by the government. "The potential size of the IPO is expected to be far larger than any precedent in Indian markets," the department had said. The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March). So far this financial year, Rs 8,368 crore has been mopped up through minority stake sales in PSU and the sale of SUUTI (Specified Undertaking of the Unit Trust of India) stake in Axis Bank. PTI JD SHW SHW

LIC IPO: Government picks 10 merchant bankers including Goldman Sachs, Citigroup Global and Nomura

The mega IPO of Life Insurance Corporation of India (<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>) will be out by the end of the current fiscal, a senior Central government official said on Monday. According to Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), the IPO plan is on course. "Some media speculation doubting the feasibility of <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," the Secretary tweeted. The IPO is expected to become the biggest one in India and it may fetch the government around Rs 1 lakh crore. Post the Union Budget FY22, the government has taken several legislative and executive steps to pave way for the mega IPO. The LIC, a statutory Corporation constituted under the LIC Act 1956, is a leading life insurer of India wholly owned by the government. It has three branches outside India - in the UK, Fiji and Mauritius, a wholly-owned subsidiary in Singapore and Joint Ventures in Bahrain, Kenya, Sri Lanka, Nepal, Saudi Arabia, and Bangladesh. Its subsidiaries in India include LIC Pension Fund Ltd, and LIC Cards Services Ltd. Its associates include the IDBI Bank Ltd, the LIC Mutual Fund and the LIC Housing Finance Ltd. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/these-9-stocks-are-down-as-much-as-15-since-being-the-top-diwali-picks-6-weeks-ago/articleshow/88387967.cms">From ICICI Bank to INOX, these 9 stocks are down as much as 15% since being the top Diwali picks 6 weeks ago</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms">Why is the stock market falling so sharply today?</a>

LIC IPO to be launched between Jan-Mar 2022

<ul><li>Upcoming <keyword id="7922409" type="UNKNOWN" weightage="20" keywordseo="LIC-IPO">LIC IPO</keyword> may be split into two offerings as the government believes the market may not have the capacity to absorb the large issue in one go.</li><li>The government is reportedly planning to mobilise ₹1 lakh crore through the public issue.</li><li><keyword id="6367143" type="UNKNOWN" weightage="20" keywordseo="LIC">LIC</keyword> IPO will be the country’s biggest in history.</li></ul>The government may split the Life Insurance Corporation of India’s (LIC) initial public offering (IPO) into two parts with a gap of a few months as it believes the market may not have the capacity to absorb such a massive offering, as per a media report. Life insurance giant LIC is looking to raise ₹1 lakh crore through the public issue, said a <a href="https://timesofindia.indiatimes.com/business/india-business/in-a-1st-lic-looks-to-split-mega-ipo-into-2-offerings/articleshow/85286974.cms">report</a> by The Times of India, quoting sources it did not name. While this will be the largest public offering the country has ever seen, it will also be the first ever IPO to open in two parts. Officials involved in the IPO process believe that with so many offers already closed and several others in the pipeline till the LIC offer comes to the market, a large amount of investors’ funds will already be absorbed, said the report. Also, the IPO is seen to have cornerstone investors, marquee asset managers who could put in large funds ahead of the IPO. Usually, government-owned companies don’t opt for any type of share placement with investors before an offer. The term cornerstone investors is generally understood to refer to that class of investors who commit in advance to invest a fixed amount of money, or for a fixed number of shares, in an IPO. In this year’s union budget, Finance Minister Nirmala Sitharaman had said that the LIC IPO would be completed this fiscal (FY22). So far 41 IPOs have already been listed on the BSE in 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a>

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LIC IPO – All your doubts cleared

Bhakti Makwana

LIC IPO: Government picks 10 merchant bankers including Goldman Sachs, Citigroup Global and Nomura

PTI

LIC IPO to be launched between Jan-Mar 2022

IANS

LIC’s mammoth IPO may happen in two parts, as government reportedly believes market may not have the capacity to absorb it in one go

Bhakti Makwana

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