LIC IPO: 12 million policyholders have demat accounts, says report

Ever since the Life Insurance Corporation (LIC) announced launching the initial public offering (IPO), 65 million LIC policyholders have shown interest to get the much-touted share of the largest insurance company in the country, an official said. Of them 12 million have dematerialised accounts, the official added.

The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue.

The officer said 10 per cent reservation is given to the policyholders in the IPO, whose shares have been earmarked.

“Whosoever is the policyholder, if they have linked their PAN with