LIC IPO Date 2021: BIG boon for investors! Govt to reserve 10 pct share for LIC policy holders; Over 1 cr Demat accounts to open

LIC IPO Date 2021: A big development has occurred regarding the Initial Public Offering (IPO) of the Life Insurance Corporation of India (LIC).  The government is likely to reserve 10 per cent share for LIC policy holders in the public issue. More than 1 cr new Demat accounts to open before the launch of the IPO. Zee Business’ Anurag Shah has this BIG BREAKING NEWS! He said that the DIPAM Secretary had earlier in an interview indicated that there will be a 10 per cent reservation for LIC policy holders.

The Finance Minister Nirmala Sitharaman had already announced in her Budget 2021 speech that the LIC IPO will be brought in FY22. Shah said that there will be a reservation of shares for LIC policy holders, he said citing his sources in LIC. He further said that Department of Investment and Public Asset Management (DIPAM) has indicated that there will be a 10 per cent reservation for the LIC policy holders in the IPO.  

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The number of LIC policy holders is around 25 cr, he further said. 

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#ZBizExclusive | LIC IPO और बाजार से जुड़ी बड़ी खबर...

LIC पॉलिसी होल्डर्स के लिए IPO में 10% हिस्सा रिजर्व रखेगी सरकार...IPO इश्यू से पहले खुलेंगे 1 करोड़ से ज्यादा नए डीमैट अकाउंट- सूत्र#LIC #LICIPO #DIPAM @AnilSinghvi_ @anuragshah_ pic.twitter.com/X4W0VVDs8D

— Zee Business (@ZeeBusiness) February 4, 2021

He said that it is being expected that over the next 6-8 months, more than 1 cr new demat accounts will be opened. 

He said that there is a sizeable chunk of LIC policy holders who do not have a Demat account. Currently there are over 4.5 cr Demat account holders in the country. He said that because of the reservation for policy holders, Demat accounts will be opened. 

He said that this is a big news for the stock markets, CDSL and its holding company BSE. He said that there will be a lot of traction if 1 cr Demat accounts are opened.  

LIC policy agents have also been pushing sales on the back of this news. The LIC IPO is likely to come in the next financial year and it will be country’s largest IPO.