IPO: Policyholder new sub-category

Mumbai: For the forthcoming mega IPO of LIC, stock exchanges will introduce a new sub-category "policyholder" for bidding for reservation on its book building platform.

"BSE has introduced a new Sub-category- “POL” (Policyholder) for bidding for reservation under Policy Holder category on its book building platform –IBBS," the stock exchange said in a notice issued to its trading members and other market intermediaries on November 19.

The BSE has also organised a mock public issue from November 22 till December 24 to make the internet based book building efficient in light of introduction of this new sub-category and sought feedback from intermediaries.