Can an LIC policyholder with lapsed policy apply for discounted IPO shares?

To be eligible for reservation under the Policyholder Reservation Portion category, the policy should have been issued on or before the date of this Draft Red Herring Prospectus and should not have exited by way of surrender, maturity or death claim on the Bid/Offer Opening Date.

from Personal Finance News-Wealth-Economic Times https://ift.tt/fxk9rtB