LIC IPO has become of of the most anticipated moments in the history of Indian share markets. The largest IPO in the history of India is expected to hit the bourses by March 31, 2022. According to a report by Reuters, the LIC IPO may open for applications on March 11, 2022. The IPO is expected to make LIC the company with the largest market cap in India.
LIC IPO for policyholders is more exciting. According to the Draft Red Herring Prospectus (DRHP) filed by the company with the SEBI recently, 10 per cent of shares have been reserved exclusively for the current policyholders of LIC. So, Hurry up!!
How to Apply for LIC IPO as a Policy Holder?
Step 1- A PAN Card linked to your LIC Policy account
1- Visit here
2- To complete the process. You will need your PAN, along with the list of policies you hold. Click on “Proceed” at the bottom of the page.
3- On the next page; Enter your Date of Birth, as per PAN, Gender, Email ID, PAN, Full name as per PAN, Mobile number, Policy Number (In case you hold multiple policies, click on “Add Policy” and proceed to enter another policy number)
4- Click on the deceleration checkbox
5- Enter the captcha.
6- Click on the “Get OTP” option.
7- Once you receive OTP on your registered mobile number, enter the OTP and click on “Submit”.
Step 2 - How can I check if my PAN is already linked with my LIC Policy?
1- You can also check the status of PAN linking with Aadhaar here- https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
2- To apply in the policyholder category, you need to fulfill two conditions listed in the prospectus:
- You have purchased your LIC policy on or before Feb 13th, 2022.
- Your PAN has been mapped to your LIC policy on or before Feb 28th, 2022.
However, a policyholder must remember that the last date for PAN policy link is 28th February 2022. LIC policyholders linking their policy with their PAN after this given deadline won't be eligible for claiming 10 per cent quota reserved for policyholders.
Step 3- Must have a Demat Account
The policyholders can apply for the IPO through their own Demat accounts
1- - Visit here to open Demat Account online at Upstox Stock Exchange
2- Enter your Details
3- Create Your Demat account online at Upstox Stock Exchange
4- Done.
Step 4- How do I apply to the LIC IPO?
- Add fund of desired amount in Upstox Exchange
- Enter your bid, the full amount of the bid will be blocked by the bank in the account of the ABSA bidder.
- Policyholders using this method will have to ensure that their ABSA account has sufficient balance for credit.
Step 5- Where do I check the allotment status for LIC IPO?
You can check the allotment status for the LIC IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.