LIC IPO may offer 10% discount to employees under special quota

Govt to pitch for amendments in the LIC Act in the Monsoon session starting September 14

Long-term employees of the Life Insurance Corporation (LIC) could benefit significantly from the proposed initial public offering (IPO) of the state-owned insurer. Sources in the government said that the divestment process will have the special quota where they could buy the shares at the 10 per cent discount. 

The development assumes significance since the government is expecting huge demand for the public issue. So, if an employee bids through the retail quota, his chances of getting allotment will be lower. LIC had a total 110,000 employees as of March 2019.  

However, the final decision on the allotment of shares and