Finally, LIC has drafted DHRP for the most-awaited LIC IPO in Feb 2022. Now the biggest question is Whom did LIC select for LIC IPO. What will be the quota for LIC policyholders?. LIC is the biggest company in Insurance Sector.
The Life insurance corporation of India has established in 1956 by the Indian government. The company had a monopoly business before private player entry in the insurance sector. Still, the company has good business growth.
The company’s biggest backbone is agents who are spreading all over India, till the end of 2020 company has 12,08,826 agents. Agents are generating company business.
LIC is the biggest investor of the Indian share market withholding 4% of total equity. LIC has almost 4 lakh crore unrealized gains.
LIC’s total revenue was at Rs 1900.94 crore while net profit stood at Rs 69.39 crore. Its total assets were at Rs 21949.37 crore while net worth stood at Rs 8019.21 crore. LIC’s total revenue was at Rs 3805.76 crore against Rs 30198.22 crore last year. Net profit for the fiscal stood at Rs 191.31 crore against a loss of Rs 11763.38 crore a year ago. The total net worth for the fiscal was at Rs 189.01 crore versus Rs 131.90 crore a year ago.
Whom did LIC select for LIC IPO?
As per media reports, LIC will give a 10% quota to its exiting policyholders.
What will be the discount for LIC Policy Holders?
As per media reports, LIC will announce a 10% discount for policyholders.
What will be the quota for LIC employees?
There are no reports for LIC employees.
Issue size: The IPO consists of an offer for sale of up to 316.25 million shares or around a 5% stake by the government of India.
Lead managers to the issue: Kotak Mahindra Capital, Axis Capital, Bofa Securities, CitiGroup Global markets India, Nomura Financial Advisory, Goldman Sachs India Securities, ICICI Securities, JM Financial, JP Morgan India, SBI Capital.
Price Band: Share price will be in the range of 2000 to 2200 as per media reports.
Important Dates for LIC IPO: IPO will open in the second week of March and will list in march month.
Policyholders Quota: 10 % from the whole issue size.
Click Here to Know LIC IPO GMP
FAQ’s for Whom did LIC select for LIC IPO
What is Qutoa for PolicyHolders in LIC IPO
As per media reports, there will be a 10% reserved quota for the policyholders
When will LIC IPO Open
LIC IPO likely to open the second week of march
How LIC PolicyHolder Get Qutoa in LIC IPO
Policyholders must attache PAN with their policy before 28 Feb