ET Online
Feb 23, 2022
Up to 10% will be reserved in the IPO for eligible LIC policyholders under the Policyholder Reservation Portion, wherein they may get discounted shares.
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Equity shares can only be issued in dematerialized form. Thus both policyholders or retail investors must have a demat account to apply.
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Eligible Policyholder(s) across categories have to apply for the said minimum x number of Equity Shares, as specified in the Offer Documents.
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The discount offered is Rs Z per Equity Share. If Offer Price is Rs X, Eligible Policyholder(s) will be allotted Equity Shares at Rs (X-Z) per Share.
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Only one of you can apply for the discounted equity shares. If the demat account is joint, the applicant needs to be the first/primary account holder.
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All policies which have not exited LIC records by way of maturity, surrender or by way of death of policyholder are eligible under the Policyholder Reservation Portion.
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No. The policyholder has to have the demat account in his/her name.
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Yes, if you are applying for Equity Shares as a karta you are eligible to Bid under the Policyholder Reservation Portion.
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No minimum balance of equity shares is required to be kept in the demat account.
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No, investment in Equity Shares of LIC does not qualify for tax exemption, as per income tax rules.
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