LIC IPO: 10.8 million eligible to avail of policyholders' quota

About 10.8 million policyhol­ders of Life Insurance Corpo­ration of India (LIC) have linked their policies with PAN and have a demat account. This exud­es confidence among government and LIC officials about the subscription of policyholders’ reservation in the upcoming initial public offering (IPO). 

LIC has identified 50 million unique individuals who hold about 282 million policies. Crossing the 10-million mark for individuals who are eligible for the IPO reservation has been above the expectation, said a top government official.

LIC had over 282 million policies in force as of September 30, 2021, but policyholders tend to have more than one policy, implying