Want To Invest in LIC IPO? Policy Holders Should Do This Work Before 28th February

Life Insurance Corporation of India (LIC) has asked all its policy holders to update their PAN details in their policy records to participate in its upcoming IPO. This information has been received from LIC’s Draft Red Herring Prospectus (DRHP).

LIC has filed a draft letter with the capital market regulator SEBI on February 13 for the government to sell its 5 per cent stake for around Rs 63,000 crore.

Policy holders will get discount

According to preliminary information, the initial public offering (IPO) for more than 31.6 crore shares or 5 percent government stake of LIC is likely to hit the market in March. In this IPO, LIC employees and policy holders will get a discount on the floor price.

Update PAN details Policy Holders

LIC said that all our policy holders should ensure that their PAN details are updated in the policy records of our corporation at the earliest.

As per the DRHP letter, a policyholder who has not updated his/ her PAN details with our corporation before the expiry of two weeks (February 28, 2022) from the filing of DRHP with SEBI, will not be considered as an eligible policyholder. Policyholders can update their PAN details by visiting the LIC website themselves or with the help of their agent.

Check PAN-LIC Update Status

First of all go to https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus.

Fill the details of policy number, date of birth and PAN, as well as enter the captcha. Then press submit button.

After the completion of the process, the status will be displayed in front of you on the screen.

Can update online like this

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.

What are the documents required in IPO?

Pan Card.

Registered mobile number will have to be entered.

An OTP will be sent to the mobile number registered with LIC.