LIC was incorporated in 1956 after merging and nationalizing 245 private life insurance companies in India. It is the largest life insurer in the country, with a market share of 64% in terms of premiums. 74.6% market share in terms of number of individual policies issued, and 81.1% market share in terms of number of group policies issued for Fiscal 2021.
As of September 30, 2021, LIC operated 8 zonal offices, 113 divisional offices, and more than 4,700 branch/satellite and mini offices.
LIC is the largest asset manager in India with an AUM of Rs. 39.56 lakh crore as of September 30, 2021, on a standalone basis. Which was more than 3.3 times the total AUM of all private life insurance players in India and 18.5% of India’s annualized GDP for Fiscal 2022.
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. India's largest insurance company is going public soon.
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Application Details :
"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 invest in the much-awaited LIC IPO, policyholders must have two things :-
- Policyholders PAN should be updates on the LIC portal
- Policyholders should have a demate account
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
How to check if your PAN is already linked with your LIC policy or Or not ?
- Visit this page
- Enter your Policy number, Date of Birth, PAN, and captcha in the respective fields and press submit to see your LIC policy and PAN link status.
If your LIC policy is not linked with your PAN, you can follow the steps given below to get this done :
- Visit this page.
- To complete the process. You will need your PAN, along with the list of policies you hold.
- Click on “Proceed” at the bottom of the page.
- On the next page; Enter your Date of Birth, as per PAN, Gender, Email ID, PAN, Full name as per PAN, Mobile number, Policy Number (In case you hold multiple policies, click on “Add Policy” and proceed to enter another policy number)
- Click on the deceleration checkbox
- Enter the captcha.
- Click on the “Get OTP” option.
- Once you receive OTP on your registered mobile number, enter the OTP and click on “Submit”.
How do I apply to the LIC IPO ?
You can apply for the LIC IPO using any supported UPI app by following two steps:
- Enter your bid on Console
- Accept UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account.
IPO date - To be announced (Approximate 10th March to 14th March/2022)
Listing date - Before 31st March-2022 (Approximate)
Price range - 1600-2100 (Approximate)
Minimum order quantity – 7 per lots (Approximate)
Public Issue (Notice) : visit
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Note: If you're applying in the policyholder category through your Zerodha account then, the PAN used for LIC policies has to be the same as that registered with your Zerodha account.
Data source : aajtak.com / zerodha.com / the economic times / moneycontrol.com