| December 22
How to apply LIC IPO online
Life insurance corporation is a household name. LIC is the sole government-owned insurance company established in the year 1956 by merging 245 insurance companies. LIC is synonymous with life insurance.
Since the announcement of the IPO, all eyes are set on LIC. LIC aims to raise 1 lakh crore through the IPO. The IPO is also focusing on the active participation of retail investors. A brand awareness campaign is to be launched to spread the word about the IPO.
Details of IPO:
Recently, the LIC IPO was announced. While the details of IPO like bidding size, minimum investment, lot size etc are yet to be announced, there is much talk about the IPO among the masses.
Time of operation:
According to DIPAM, the LIC IPO is expected to operate during the third or fourth quarter of the financial year 2021-2022 but the exact IPO date is yet to be announced.
Allocated into two parts:
This has been updated recently that the LIC IPO may split into two parts with a gap of a few months.
Effect on the policyholders:
Since the LIC IPO was announced, the policy holder''''s are very curious to know how they will be affected by it.
- The policyholders will not be affected directly.
- It will ensure more transparency and efficiency.
- 10% of the issue size will be reserved for the policyholders, thus the greatest chance of getting the IPO.
- The sovereign guaranteed will be intact.
How to apply for a LIC IPO?
If you are interested in the biggest IPO, you can apply LIC IPO online and offline.
How to apply for LIC IPO online?
- Log in to your trading account
- Enter the number of shares
- Select a cut off-price, the price that you want to bid.
It is very simple and all you need is a Demat account to apply LIC IPO online. In case you don''''t have a Demat account, get in touch with findoc. We are happy to help you.
To apply you will need the following documents:
- PAN card
- Aadhar card
- The mobile number is linked to Aadhar.
- Cancelled cheque/ bank statement
- A photo scanned copy with a signature.
Note: The documents mentioned are for residential individuals not for NRIs.
Steps to apply as a policyholder
- If you are a policyholder, your chances to get the allotment is higher. Good news for sure. If you are a policyholder and wish to apply for the IPO, you will need the following things:
- A PAN card linked to your policy account: It is mandatory to link a PAN card with your policy account for KYC compliance. Without which you can''''t participate in the IPO.
- A Demat account: For buying the shares, a Demat account is a must. You can open a Demat account with us. At findoc, we help you open an account without any hassle.
What is the LIC policyholders category? Is there any benefit if I apply?
The policyholder''s category is a new section in the LIC policy, which will benefit customers who hold policies from this company.
To be eligible for making an application under the Policyholders'' category;
- Your PAN has to match with that registered on the Findoc account too.
- Before applying here you must make sure your PANs are updated using the same number as earlier entered while signing up with Findoc.
Can I check if my PAN is linked with my LIC Policy?
To check whether your PAN number is already linked with the policy:
- Visit this page and enter all required information.
- You will be redirected to a web page to provide some basic details like date of birth, PAN, policy number, and captcha.
- You then have to press ok or submit a button to view your PAN link status.
What if my LIC policy is still not linked to my PAN, then what should I do?
- Visit this Link your PAN to LIC policies page
- Update your PAN with the list of LIC policies you hold, click proceed, and move to the next step.
- You must enter your valid date of birth (the one mentioned on the PAN), gender, email, mobile number, full name, and policy number on the next page. Make sure all the details match your PAN details.
- If you have several policies, don''t forget to click on add policy and proceed further with another policy number.
- Now, click on declaration and enter the captcha shown to you.
- Locate the OTP option and receive the OTP details on the registered mobile number - click submit.
Why Invest in LIC IPO?
These are among the primary reasons why investors should consider investing in this IPO –
- The Life Insurance Corporation of India is the most significant player in the insurance sector in India.
- It has the government''s backing, making it a stable business compared with other insurance aggregators.
- Investing in LIC would favor investors significantly. The company recorded stock market profits of more than Rs. 10,000 crores in this June quarter. Investors can expect healthy dividends from the stock.
- LIC will adopt a corporate structure with independent directors.
- This should increase the company''s performance, thus increasing its value and consolidating its position in the market.
Qualifying for the LIC IPO is simple! All you need to do is:
- Open a Demat account
- We can help you to open a Demat account online - click here
- Sign up with your UPI app of choice
- Accept the UPI mandate
Once you have accepted the mandate, you will be able to hold or block the bid amount in your account.
To learn more, visit our website or talk to our experts here.
To wrap up:
LIC is one of the powerful players in the insurance sector. And investing in LIC has helped investors significantly. As the details of the IPO are yet to be announced, much anticipation is going on and people are waiting anxiously.