Bumper offer for LIC policy holders

LIC policy holders can get bumper offers at discounted prices

 

 

 

Policyholders can offer up to 10 percent disbursement on a competitive basis at some discount. There will also be reservation for employees, Pandey said.

 

 

 

LIC policy is available to many. However, not all of them have done as they wish. Their relatives and friends have been policed ​​by their insistence on being agents. Many have policy to save tax. However, the total number of LIC policyholders in the country is very high. All of them can now get a bumper offer. Just like you don’t get a discount in an LIC IPO.According to reports, a top government official has said that millions of LIC insurance policyholders can participate in the bidding of a state-owned life insurance corporation’s highly anticipated initial public offering (IPO) bidding.

 

 

 

The statement was issued by Tuhin Kanta Pandey, Secretary of Investment and Public Asset Management (DIPAM). The statement emerged as the government was preparing to submit its draft Red Herring Prospectus, or DHRP, to Sebi, the market regulator for the LIC IPO at the end of this week. “Under the retail window, there is a specific reservation. We also have a policyholder window. We have made provisions under the LIC Act,

 

 

 

Policyholders can offer up to 10 percent disbursement on a competitive basis at some discount. There will also be reservation for employees, ”LiveMint reported.

 

 

 

Livemint reported that people close to the IPO’s trading secretary said on condition of anonymity that retailers and employees may have certain discounts. However, he declined to give further details on the affair. In the meantime, Pandey has promised to make concessions to policyholders, but has not commented on the other two categories.

 

 

 

What is the percentage of shares sold?

 

A discount will be provided to promote the participation of ordinary people in the LIC IPO, which is set to be listed on the stock by March 31, a source said. However, a source quoted by the Hindustan Times said eligible policyholders are expected to meet certain criteria. Further, what percentage of shares are sold or what part of its holding is diluted by LIC IPO The central government has not yet revealed. Still, “at least 5 percent is definitely expected,” Pandey said. The DHRP also disclosed this size.

 

 

 

The expected investment reduction in the revised estimate (RE) of 2021-22 has nothing to do with the IPO size and valuation of the LIC. This is because the government’s withdrawal receipts in the current fiscal year may also exceed the RE figures, “Pandey said.

 

 

 

 

Crucial to the Modi government

 

At a post-budget meeting on February 1, the DIPAM secretary told the LIC IPO that DHRP would be expected in two weeks. He said in an interview with news agency PTI that approval of the insurance regulator is expected, followed by a draft prospectus detailing the size of the share sale. LIC’s listing is crucial for the Modi government to meet its revenue estimates of Rs 78,000 crore for the current fiscal year.

 

 

 

Rahul Joshi, editor-in-chief of Network 18 Group, told Finance Minister Nirmala Sitharaman that the LIC IPO project was on track. “LIC IPO projects are going well. It should be this year. Finance Minister Nirmala Sitharaman said that the LIC IPO money will come in this year and the telephone will also be available.

 

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