Everyone is eagerly waiting for the IPO of the country’s largest insurance company LIC. Especially the policyholders are eyeing this IPO, because they are going to get the shares at a cheaper price.
If you too are policyholders of LIC and are in the queue to buy shares in IPO, then do not forget to link your PAN card with your policy. The company has reserved some part for its policyholders and has also announced a discount. But, you have to do some preparations in advance to get the shares.
Open Demat Account and Link PAN
Policyholders need to first open a demat account. Without this you cannot buy shares through IPO. This work is easily done online. Second, check whether your insurance policy is linked with PAN (Permanent Account Number). The company has asked its policy holders to do the same. Without it it would be impossible to apply in IPO.
The company gave this instruction
LIC has said that to participate in the IPO, policyholders will have to check whether their PAN details are updated in the company’s records or not. Actually, at present most of the policy holders of LIC do not have a demat account. The total number of policyholders of LIC is around 29 crores, while only 8 crore demat accounts have been opened in the country so far.