NRI LIC Policyholder
Underneath the policyholder reservation portion, LIC has put aside as much as 10 p.c of the shares bought in its IPO for its policyholders. Nonetheless, NRI policyholders and others who don’t reside in India is not going to be eligible to use for the policyholder reservation portion. Solely resident Indians can apply.
Demat Account Obligatory
To put money into LIC IPO, the policyholder wants to make sure that their PAN info is up to date in LIC’s system they usually have a demat account. In keeping with the LIC DRHP filed with SEBI, a policyholder who doesn’t replace his PAN earlier than February 28, 2022, is not going to be eligible to take part in its IPO below the portion reserved for policyholders.
LIC policyholder with lapsed coverage
A policyholder whose LIC coverage has expired can nonetheless apply for an IPO by way of the policyholder reservation portion. All insurance policies not taken out of LIC file as a consequence of maturity, give up, or loss of life of the policyholder are eligible.
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Joint LIC Policyholders
The policyholder can apply for less than one of many two fairness shares below the reservation portion class. The PAN of the bidder must be modified within the insurance coverage information. Additionally, the applicant ought to have a demat account in his personal title, and in case of a joint account, the applicant must be the primary/major account holder.
LIC Policyholders below Group Coverage
All insurance policies aside from group insurance policies are eligible to bid within the policyholder reservation portion.