LIC IPO News: LIC told policyholders, to participate in IPO, this important work will have to be done

LIC IPO News: The IPO of Life Insurance Corporation of India (LIC) is going to prove to be the biggest IPO of the country so far and now the news related to it is also coming. In fact, LIC has now asked its policyholders to ‘update’ their Permanent Account Number (PAN) to participate in its proposed IPO. Apart from this, it has also been reported that according to the proposal, up to 10 percent of LIC’s IPO will be kept in reserve for its policyholders. 

LIC statement issued
LIC said in a statement that ‘In order to participate in any such public issue, policyholders will have to confirm that their PAN details are in the company’s records. are updated. To book or subscribe to any public issue in the country, you must have a valid demat account and this is applicable for LIC’s IPO as well.

LIC has also said in its statement that LIC is informing policyholders about updating their PAN through advertisement. This is being done because it is very important from the ‘Know Your Customer’ (KYC) point of view to participate in the proposed IPO.

When will LIC’s IPO come
In her budget speech, Finance Minister Nirmala Sitharaman had said that LIC’s IPO will be launched in the financial year 2021-22. The government plans to reduce its 25 percent stake in LIC and there is a good trend regarding its IPO. It is believed that the dates of LIC’s IPO may be announced in December, it was to be brought earlier, but due to the Corona epidemic, there is a delay in bringing the IPO.

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