LIC has announced that a 10 percent discount will be given to its policyholders on IPO application. To apply under the policyholder category, one must link PAN with LIC policy and have a valid Demat account.
The mega initial public offering (IPO) by Life Insurance Corporation (LIC) is around the corner and there's a frenzy in the market to participate in the upcoming share sale. The IPO, expected to be the largest in the country's history, is likely to open for subscription in the first week of March. Up to 5 percent of the shares on offer could be reserved for employees, and up to 10 percent for policyholders. LIC has over 32 crore policyholders.
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If you are a LIC policyholder, here's what you need to do to apply under the "policyholder" category— link your PAN card with your LIC policy and have a valid Demat account.
Follow these steps to link your PAN with LIC policy:-
· Go to -- https://licindia.in/
· Select the Online PAN Registration option and then click on "Proceed"
· Enter your details, including PAN, LIC policy number, mobile number and email address
· Enter the Captcha code in the designated box
· Request for OTP
· Enter the OTP received on your mobile number and submit
How to check if PAN card and LIC policy are linked
· Visit --https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
· Enter your Policy Number, Date of Birth and PAN details
· Enter the captcha code and submit
How to open Demat account
· Select a broker with whom you want to open your Demat account
· Visit the broker’s website
· Start Demat account opening procedure
· Assign a nominee to your account
· Fill out the form
· Submit all required documents for KYC verifications
· Submit scanned copies of documents like ID cards, address proof, bank account statement and income proof
· In-person verification with the brokerage house is also mandatory
· Once your request for opening an account is approved, you will receive a unique 16-digit beneficial owner identification number
· This number will be required to access your Demat account online
· Now, you can log in to your Demat account and start online trading
Those who do not have an LIC policy also can participate in the IPO sale under the "retail" or "institutional" investment category. One can take the help of an LIC agent for the same.
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(Edited by : Thomas Abraham)
First Published: Feb 14, 2022 11:35 AM IST
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