Life Insurance Corporation of India IPO (LIC IPO) Detail

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LIC is the only government-owned insurance company in India. It is the largest insurance firm in India, with a market share of around 64.1 percent in terms of premiums and 66.2 percent in terms of new business premiums. Unit linked insurance products, LIC IPO Details, saving insurance products, term insurance products, health insurance, and annuity & pension products are among the company’s participating and non-participating insurance products.

LIC Detail

LIC had 8 zone offices, 113 divisional offices, and about 4,700 branch/satellite and small offices as of September 30, 2021.

On a standalone basis, LIC is India’s largest asset manager, with an AUM of Rs. 39.56 lakh crore as of September 30, 2021. That’s more than 3.3 times the entire AUM of all private life insurance companies in India, and 18.5 percent of India’s annualized GDP in Fiscal 2022.

LIC is also the largest investor in India’s equities markets; as of September 30, 2021, its listed equity investments accounted for about 4% of the NSE’s total market capitalization.

As of March 31, 2021, LIC was ranked seventh in the world in terms of total assets.

About LIC Company

The Life Insurance Corporation of India (LIC) is India’s largest life insurer, has been in operation for more than 65 years. Around 245 private life insurance businesses were merged and nationalized to become LIC in 1956. For Fiscal 2021, it holds a 64.1 percent market share in terms of premiums (or GWP), 66.2 percent market share in terms of New Business Premium (or NBP), 74.6 percent market share in terms of individual policies issued, and 81.1 percent market share in terms of group policies issued. It is also India’s largest asset manager. It was the country’s only life insurance business until 2000.

LIC has over 2,000 branches, over 1.1 lakh workers, lakhs of agents, and 286 million policies, all of which have helped it gain two-thirds of the insurance market share. It was established in 1956 by an act of Parliament and is backed by a sovereign guarantee, which means the government is responsible for infusing funds whenever they are required. As the insurance industry becomes more competitive, that moment may have come.

IPO Opening DateNot yet Announced
IPO Closing DateNot yet Announced
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO PriceNot yet Announced
Market Lot
Min Order Quantity
Listing AtBSE, NSE
Issue Size
316,249,885 Eq Shares of ₹10
(aggregating up to ₹[.] Cr)
Offer for Sale316,249,885 Eq Shares of ₹10
(aggregating up to ₹[.] Cr)

LIC IPO Details

The countdown has officially begun! For bankers who are working around the clock to value the mammoth insurer, it’s a race against time. Government departments participating in the process are working as hard as they suit to complete a massive task: list LIC, India’s greatest jewel, by early March! The IPO’s size immediately qualifies it for inclusion in the Sensex and Nifty!

Competitive strength

  • India’s largest insurance provider and the world’s fifth largest insurer by GWP.
  • A variety of life insurance plans to accommodate a wide range of insurance needs.
  • Large omni-channel distribution network with 1.34 million agents, 3463 active Micro insurance agents, 174 other channels, and more.
  • India’s largest asset manager with a proven track record of financial performance.
  • A management team with a wealth of experience and qualifications.

What is the LIC policyholders Benefits?

For the LIC IPO, a new category called “Policyholder” would be formed, with up to 10% of the issuance designated for consumers who own LIC policies. To be considered for the policyholder category, you must meet two requirements outlined in the prospectus:- 

  • Your LIC policy was purchased on or before February 13th, 2022.
  • On or before February 28th, 2022, your PAN was linked to your LIC policy.

Important Note for Policyholders

  • Log in to the LIC official website: https://licindia.in/ to link your PAN with LIC policies.
  • On the homepage, go to the ‘Online PAN Registration’ window. Put your e-mail address, PAN, phone number, and the correct policy number in the boxes provided. Then request an OTP to be sent to the mobile number associated with your insurance.
  • Put the OTP correctly on the portal after receiving it on your mobile number. When you submit the completed form, a window will appear on the website confirming that your registration request was successful.

How to Apply LIC IPO

There are several ways to apply for the LIC IPO:
a) Existing PL Client
b) New Demat Account
c) Refer your LIC customers and friends

Frequently Asked Questions about Travel Bag

1. What is the issue size of LIC IPO?

Ans: The LIC IPO is a sale of up to 316,249,885 equity shares with a face value of Rs.10 each.

2. What is LIC IPO?

Ans: The LIC IPO is a main-board offering of 316,249,885 equity shares with a face value of ten rupees, with a total value of [.] crores. The price range for the issuance is [.] to [.] per equity share. The order quantity must be at least.
The LIC IPO open and close dates are currently unavailable.
The IPO’s registrar is KFintech Private Limited. The shares will be listed on the BSE and NSE.

3. how to Apply for LIC IPO?

Ans: You can apply for the LIC IPO online by paying using UPI or ASBA. The ASBA IPO application can be found in your bank account’s net banking. Brokers who do not provide banking services provide the UPI IPO application. More information about applying for an IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank, and SBI Bank can be found here.

4. When will the LIC Listing date?

Ans: The LIC’s initial public offering (IPO) date has yet to be declared.

5. What are the open and close dates of the LIC IPO?

Ans: The date of the LIC IPO has yet to be disclosed.

Disclaimer:

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