Race for IPO quota: LIC policyholders rush to link PAN with policies

Insurer, Centre expect 10 million to have demat accounts linked to LIC policy by February 28

The Life Insurance Corporation (LIC) of India has started seeing a jump in policyholders linking their permanent account numbers (PANs) to LIC policies, signalling a big response among them to participate in the insurer’s initial public offering (IPO).

More than 1.2 million PANs were linked in the past one week.

About 9.2 million policyholders have demat accounts linked to their LIC policies.

The insurer and the government are expecting the demat accounts of over 10 million policyholders to be linked to their policies by February 28, the last day for the exercise declared by the insurer, officials in the know said.

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