Mumbai: Insurance coverage big LIC has requested its policyholders who’ve a demat account to hyperlink their earnings tax PAN with their insurance policies in order that they will apply in its IPO underneath the reserved class. These LIC policyholders who do not need a demat account but may open one and hyperlink PAN to their insurance policies underneath this facility to use within the IPO underneath this class.
The federal government is eyeing round Rs 1 lakh crore by divesting a part of its stake within the life insurance coverage main by way of the IPO, anticipated within the subsequent few months. That is certain to be the most important IPO in India, far forward of the not too long ago closed Paytm supply that was price about Rs 18,300 crore, official information confirmed.
Earlier this 12 months, the federal government amended the LIC Act, 1956 to permit it to supply shares to its policyholders when it goes for an IPO. By an commercial, LIC additionally knowledgeable policyholders how they might hyperlink their insurance policies with their PAN.
The federal government is eyeing round Rs 1 lakh crore by divesting a part of its stake within the life insurance coverage main by way of the IPO, anticipated within the subsequent few months. That is certain to be the most important IPO in India, far forward of the not too long ago closed Paytm supply that was price about Rs 18,300 crore, official information confirmed.
Earlier this 12 months, the federal government amended the LIC Act, 1956 to permit it to supply shares to its policyholders when it goes for an IPO. By an commercial, LIC additionally knowledgeable policyholders how they might hyperlink their insurance policies with their PAN.
Supply: Times of India