LIC is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.
As of 30 Sep 2021, it has a total AUM of Rs. 39 lakh crore. LIC operates through 2048 branches, 113 divisional offices, and 1,554 Satellite Offices. It operates globally in Fiji, Mauritius, Bangladesh, Nepal, Singapore, Sri Lanka, UAE, Bahrain, Qatar, Kuwait, and the United Kingdom.
LIC is also the biggest player in India's equity markets, as of September 30, 2021, its investments in listed equity represented around 4% of the total market capitalization of NSE. Globally, LIC is ranked eighth in terms of total assets, as of March 31, 2021.
Funds from the fresh issue will be used for
The Company will utilize fresh issue proceeds for the following:
To achieve the benefits of listing the equity shares on the stock exchange.
To carry out an offer for sale of 316,249,885 shares by selling shareholders.
Company Financials (in crores)
What is the LIC policyholders category? Will LIC policyholders get any benefit if they apply?
"Policyholder" is a new category introduced for the LIC IPO, this category will have up to 10% of the issue reserved for the customers who hold policies of LIC. To apply in the policyholder category, you need to fulfill two conditions listed in the prospectus:
You have purchased your LIC policy on or before Feb 13th, 2022.
Your PAN has been mapped to your LIC policy on or before Feb 28th, 2022.
Policyholders will get a discount of Rs. 60 so the effective price would be Rs. 889
How to apply for an IPO/Buyback Online via Navjeevan?
Step 1: Go to our website and select an IPO that you wish to apply for.
Step 2: Log in your details (Non-Navjeevan Client can log in via their mobile number).
Step 3: Enter the price at which you want to apply for shares and the number of lots and provide your UPI ID
Step 4: Submit the application and then approve the block funds request on the UPI App.