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LIC IPO

Life Insurance Corporation of India

IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
To be announced------
Issue Size
NA

About Company

Life Insurance Corporation is the only government-owned insurance company in India. Founded in 1956, LIC was set up by merging around 245 insurance companies. The LIC had a monopoly in the life insurance space until the 1990s, after which the government opened up to the private sector. For a long time, the term 'LIC' was synonymous with life insurance. LIC has around 2,048 branches in India. As per the latest annual report of LIC, there are 8 zonal offices in India. Zonal offices are situated in Delhi, Chennai, Mumbai, Kolkata, Kanpur, Patna, Bhopal and Hyderabad, Besides zonal and branch offices, there are 113 Divisional Offices, 1,178 Mini Offices and 1,526 Satellite Offices.
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Founded
1956
Managing Director
NA

Strengths & Risks

  • The network of LIC agents in the country is humongous. According to Life Insurance Council, the number of LIC individual agents as of March 31, 2021, were 13.53 lakh compared to a total of 11.01 lakh agents for over 20 private life insurers.
  • The company offers a wide variety of life insurance plans, endowment plans, whole life plans, money back plans, term insurance plans and insurance riders.
  • According to LIC's 2019-20 annual report, LIC had a market share of around 69% in the life insurance space.
  • Apart from life insurance, LIC has the following businesses: LIC Housing Finance, LIC Mutual Fund, LIC Pension Fund, LIC Cards Services. In 2019, LIC acquired IDBI Bank as well.
  • LIC has over 1.14 lakh employees.
  • LIC also directly operates through its foreign branch offices in Fiji (Suva and Lautoka), Mauritius (Port Louis) and United Kingdom (Wembley).
  • It faces competition from many private players offering better service to policyholders.
  • Being a PSU, there are certain restrictions on LIC.
  • LIC also needs to change its internal policies based on any fiscal/monetary policy changes in the country.

Top IPO FAQs

What is the LIC IPO?

The Government of India has decided to reduce its holding in LIC by launching LIC IPO in 2022. This is expected to make the operations of LIC more transparent and efficient. More details will be updated once the company files the Red Herring Prospectus with SEBI.

When will LIC IPO open?

According to DIPAM, the Life Insurance Corporation of India (LIC) IPO can be expected during the fourth quarter (January to March) of the financial year 2021-22. The pre-IPO process is already underway. Actual LIC IPO date has not been announced yet.

What do LIC Policyholders require before applying for LIC IPO?

Policyholders have to link their PAN card with their LIC policy to be eligible for the LIC IPO. They can link their PAN with LIC policy on LIC website or by contacting LIC agents. Apart from that, everyone applying in IPO should have a DEMAT account and an active UPI ID linked to a bank account having sufficient funds.

Do LIC policyholders have a higher chance of getting an allotment in the LIC IPO?

It is expected that LIC may reserve a certain portion of shares for its policyholders. In such cases, chances of getting an allotment may increase on applying as a policyholder. It is also possible that policyholders may end up getting the shares at a discounted price. However, this is not official yet and will be confirmed only after IPO dates are announced.

Will the soverign guarantee be maintained?

The Government of India will ensure that the sovereign guarantee that made LIC popular is maintained. However, since the government is also making changes to the Life Insurance Corporation Act, 1956, we will have to wait to see the changes to assess the impact on policyholders.

What is the lot size and minimum order quantity of the LIC IPO?

This along with other LIC IPO details are yet to be announced.

What are the allotment dates for the LIC IPO?

LIC IPO issue date and allotment date is not available right now.

Who is the registrar of LIC IPO?

Details of LIC IPO registrar is not available right now.

Where is the LIC IPO getting listed?

LIC IPO share price and other listing details are not available right now.
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