LIC IPO: Policyholders To Fulfill These Conditions To Participate in IPO

Most of the investors of the country investing money in the market are eagerly waiting for LIC’s IPO. Especially for such investors who have an insurance policy in LIC. There is a big reason behind this. The government has announced that when LIC IPO opens, shares will be kept in reserve for policyholders. LIC has also issued an advertisement for this. In this, policyholders have been told that if you want to apply for an IPO, then certain conditions have to be fulfilled. Now what are these conditions, let us know…

LIC has filed a draft letter with the capital market regulator SEBI on February 13, 2022 for selling 5 per cent stake in the government for around Rs 63,000 crore. LIC plans to launch an IPO in March 2022 for more than 31.6 crore shares or 5 percent government stake. In the IPO, LIC employees and policy holders will get a discount on the floor price.

Provided that the PAN details are updated

LIC has asked that all policyholders should ensure that their PAN details are updated in the policy records of our Corporation at the earliest.

Can update online

  • Visit the official website of LIC https://licindia.in/.
  • Click on the option of ‘Online PAN Registration’.
  • Tap on the ‘Proceed’ button on the same page.
  • Enter required details.
  • Enter the Captcha code in the box.
  • Request for OTP from your registered mobile number.
  • Once you get the OTP, enter it in the portal and submit.
  • After submitting the form, a message will appear on the success of the registration request.

Demat account will also have to be opened

Regarding IPO, LIC has said in an advertisement given in newspapers that there will be reservation in IPO for policyholders having one or more LIC policies. It is necessary for policyholders to link PAN information by February 28, 2022. Apart from this, it is also necessary to open a Demat account. For this, Demat accounts will also be opened at the Common Service Center. If a policyholder does not have a Demat account, then he should make a plan to open it at his own expense. The corporation clearly stated that the policyholder will bear the cost of opening a demat account and updating PAN. The Corporation will not bear any expenses. Demat account is necessary for buying and selling shares in equity markets.