LIC IPO: Which policyholders are not eligible to apply?

17 Feb 2022 , 04:22 PM

As we know that LIC IPO is expected to open for subscription by the end of March 2022, so we bring you all updates about this mega issue.

Take a quick look at which LIC policyholders are not eligible to apply for the LIC IPO.

LIC policyholders having a joint demat account in the name of their spouse and themselves (where they have two separate policies and PAN is linked therein), cannot apply in the offer based on that one joint Demat account.

The spouse of an annuity policyholder (now deceased) who is currently receiving annuities is not eligible to apply for LIC’s equity shares in the offer.

A policyholder must have the demat account in his/her name. A policyholder cannot apply from the demat account of his/her spouse or son or relative.

NRIs cannot apply for the IPO via the Policyholder Reservation Portion, only a person residing in India during the bid or offer period is eligible for applying in the offer.

A nominee under a policy issued by LIC is not eligible to bid for the equity shares under his/her name. Only eligible policyholder(s) can bid under the Policyholder Reservation Portion.

All policies other than group policies qualify for bidding in the Policyholder Reservation Portion.

Only LIC policyholders are eligible to bid under the Policyholder Reservation Portion. However, one can apply as a Retail Individual Bidder (RIB) or Non-Institutional Bidder.