What is LIC IPO’s employee quota?

State-owned Life Insurance Corporation of India’s (LIC) upcoming mega IPO will carve out an employees’ quota, too, besides the policyholders’ reservation. While the size has not been specified, it can go up to a maximum of 5%. They too will be eligible for any discount that LIC could announce close to the offer opening date. The maximum bid amount permitted is Rs 2 lakh. They can also apply under policyholder, retail and non-institutional portions. Do note that this is meant for permanent employees working with LIC or its domestic subsidiaries in India. Employees at foreign branches, retired employees, and those hired on contract or temporary basis will not be eligible for this.