How to apply LIC IPO is the question the policyholders are keen to know as the initial public offering is about to file its draft papers with market regulators, SEBI in the coming week. The Finance Minister Smt. Nirmala Sitharaman in her 2022-23 Budget speech had said that the public issue of the LIC is expected soon.
With the last quarter of the financial year is about to end, there is an eagerness for the mega initial public offering of LIC. The government is likely to file DRHP for LIC IPO by next week. There is a special percentage of quota for LIC policyholders too. As per reports, up to 10 percent of the issue size would be reserved for policyholders.
If a LIC policyholder would want to participate in the upcoming IPO, he or she needs to have two things, one is a PAN account linked to their LIC policy account, and a Demat account. In order to participate in LIC IPO as a policyholder, policyholders need to ensure that their PAN details are updated and linked.
How To Apply LIC IPO For Policyholders
With PAN details and Demat account, isn’t it the next thing that comes is how to apply LIC IPO? Termed to be the biggest ever IPO to hit the exchanges, the craze is unmatchable with some even buying new policies to be eligible for the mega IPO. So let us look at the steps to link the PAN card and updating process step by step for existing and new policyholders.
1) Check PAN availability status in Policy
- Go To https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
- Enter your Policy Number, Date Of Birth(dd/mm/yyyy), and PAN Number in the required fields.
- Enter the Captcha in the designated box.
- Click on Submit.
After clicking on submit, the next page will show the status of your LIC policy and PAN link.
2) Link PAN With Your Policy Number
- Go to https://linkpan.licindia.in/UIDSeedingWebApp/
- Enter Date Of Birth(dd/mm/yyyy) as per PAN.
- Select your Gender.
- Enter Email Id, PAN Number, Full Name as per PAN, and mobile number in the required fields.
- Enter Policy Number and click Add Policy once you enter the policy number.
- Click on the self-declaration checkbox ( I hereby submit my PAN……..).
- Enter Captcha in the designated box.
- Click on Get OTP.
Once you enter the OTP received on the registered mobile number and Email Id, the next page will link your PAN Card with your policy number.
3) Demat Account
Demat account is one of the important requirements for buying and selling shares in the equity markets. These accounts are maintained by depository organizations like NSDL and CDSL. Documents like Aadhar, PAN details, Income details, address proof, etc are also required to open a Demat Account. Currently, there are 8 crore Demat accounts in India whereas LIC has over 25 crore policyholders.
How to apply LIC IPO In Zerodha
- Step-1: Go to https://zerodha.com/ipo/
- Step-2: CLICK ON “APPLY FOR AN IPO”.
- Step-3: CLICK ON THE APPLY BUTTON.
How to apply LIC IPO In Upstox
- Step-1: Go to https://invest.upstox.com/ipo
- Step-2: Select LIC IPO once the application is open.
- Step-3: Click on Apply.
- Step-4: Confirm your application.
N.B- THIS IS JUST A GUIDANCE WITH AN EXAMPLE. IT WILL BE APPLICABLE ONCE “LIC IPO” OPENS FOR BIDDING.
With the steps on how to apply LIC IPO described above, now all eyes will be on its draft papers and valuations.
Incorporated in 1956, Life Insurance Corporation of India is a state-owned insurance and investment corporation headquartered in Mumbai. It is a government-owned company in India. LIC has the highest market share in terms of New Business Premium and the Number of Policies or Schemes. As of December 2021, LIC’s market share for the New Business Premium stood at 66% which was significantly higher than the total market share of the private corporations.