LIC IPO

Life Insurance Corporation (LIC) of Indiawas established in 1956 under the LIC Act (corporation under an Act of Parliament) by merging and nationalizing 245 small and medium sized private insurers. However, what must be said in favour of LIC is that even 22 years after private competition was permitted in India, it still holds 71% share of individual policies and 89% of group policies.

Here are some intimidating and imposing statistics about LIC. It has an overall AUM of Rs.40.2 trillion, i.e. 10% larger than the entire mutual fund industry in India. Apart from being one of the most trusted brands, LIC is also seen as safe and gilt-edged. It offers endowments, term plans, health products, annuity products and ULIPs. It commands a network of 13.30 lakh agents, supported by 2,048 branches and 1,559 satellite offices. Above all, LIC has 27.9 crore active policies as of December 2021. Read more

How do I apply for the LIC IPO?

You can apply for the LIC IPO using any supported UPI app by following two steps:

• Enter your bid on rocket
• Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account.