Many policyholders may be interested in applying for allotment in the IPO. However, not all LIC policyholders will be eligible to apply via Policyholder Reservation Portion (up to 10% would be reserved for LIC policyholders.).
Let’s see which LIC policyholders are not eligible to apply for the LIC IPO under the Policyholder Reservation Portion:
- In case of joint demat account holders, only primary account holder can apply for offer. (both holders can not apply)
- spouse of an annuity (pension) policyholder (now deceased)
- NRIs can not apply
- As a Nominee, one can not apply.
In short, only active policyholders of LIC are eligible to bid under the “Policyholder Reservation” Portion. However, one can apply as a RIB or Non-Institutional Bidder.
Please keep an eye on all notifications from the LIC of India issued in leading newspapers.