LIC IPO: Company's board in favour of "maximum" discount for policyholders; LIC Act mandate at 10% at the least
LIC board is in the favour of maximum discount for policy holders, Zee Business' Anurag Shah reports citing his top sources.
Life Insurance Corporation of India (LIC) board is in the favour of maximum discount for policy holders, Zee Business' Anurag Shah reports citing his top sources. The top management of LIC is of the view that the current value of this state-run insurer is because of its policy holders, he said.
The government had to put initial capital at the time of the launch of this insurance behemoth and since then there has not been any need for the government capital, he further said. And policyholders have made a significant contribution to the valuation, which has increased from 5 crores to 12-15 lakh crores today.
Shah said that the LIC Act guarantees a 10% discount to policy holders and this is the minimum that the policy holders are expected to get. The policy holders are likely to get a 10 percent discount on application made up to the sum of Rs 2 lakh.
As a result, policyholders will likely be rewarded in the initial public offering (IPO).
However, the ultimate discount will not be known until the RHP is filed, but policyholders must be rewarded, according to a reasonable estimate. And the savings for this might be fairly substantial.
Because the act stipulates a 10% discount, policyholders are likely to be rewarded at the higher end of the scale. And, as stated in DRHP, policyholders will have access to a reserved quota of up to 10%. As a result, it is clear that policyholders will be rewarded in the same way in the IPO.
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LIC के IPO से जुड़ी बड़ी खबर
LIC पॉलिसी होल्डर्स को मिलेगा बढ़िया डिस्काउंट
LIC एक्ट के तहत पॉलिसी होल्डर्स को 10% तक छूट संभव
— Zee Business (@ZeeBusiness) February 15, 2022
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