Life Insurance Corporation of India (LIC) is soon going to launch its IPO at BSE and NSE.
It also announced that LIC policyholders will have a 10% reservation in its IPO allotment.
“What is the LIC policyholders reservation category and how to apply for the LIC IPO under this category?” – is a question everyone is asking ever since.
In this article, you will get to know the following details about the LIC IPO for policyholders,
Let’s see each of these points in detail…
About LIC IPO for policyholders
The government of India in the Budget of 2021-2022 has mentioned that during the LIC IPO launch, policyholders will be entitled to 10% of the issue size.
Policyholders of LIC will be entitled to apply for this category’s IPO up to a maximum of Rs 2,00,000.
In simple terms, this means that if you are a policyholder of LIC, there is a better chance for you to get the IPO allotment of LIC when compared to a non-policyholder.
However, just applying for the LIC IPO under the policyholders’ category doesn’t guarantee any allotment.
Steps to apply for LIC IPO under the policyholder category
To apply online for the LIC IPO as a policyholder,
Step 1: Verify your PAN and LIC policy link
The first thing you need to do to apply for the LIC IPO under the policyholder category is to verify that your PAN card is linked with your LIC policy.
The process is simple and can be done online easily through the official website of LIC at licindia.in
To verify the PAN LIC policy link,
- Go to the official website of LIC india at licindia.in
- Click on ‘Online Checking Policy PAN Status’.
- Enter the required details like policy number, date of birth etc.
- Click on Submit.
The status of your PAN LIC policy link will be shown on the screen.
You can read the article below for a more detailed step-by-step guide.
Step 2: Open a demat account
In order to apply for the LIC IPO, you need to have a Demat account with CDSL or NSDL. You can open a Demat account online easily.
You can also open it with a discount broker like Groww (affiliate link) that offers a Demat account.
Having a Demat account is a must in order to apply for an IPO.
Step 3: Apply for LIC IPO.
The last step is to apply for the LIC IPO when it is launched. The IPO will be launched at BSE.
The dates are not yet disclosed by LIC.
To apply for the IPO,
- First, go to the IPO list in your brokers app or website.
- Choose LIC from the list of Initial Public Offerings (IPO).
- The IPO information page will open up.
- Select “Policyholder” from the options provided
- Click “Apply Now.”
- Now fill out the bid form and click submit.
- You will receive a mandate in your bank to keep the bid amount at hold.
- Accept the mandate.
Your IPO application will be submitted.
By following these steps you can easily apply for the LIC IPO under the policyholders’ category.
FAQs regarding LIC IPO policyholders category
How to apply for LIC IPO under the policyholder category?
You can apply for the LIC IPO under the policyholder category by having your PAN linked with your policy and selecting the policyholder option while applying for the IPO through your stockbroker.
Is PAN link with LIC policy mandatory to get LIC IPO allotment?
PAN link with LIC policy mandatory only if you have a LIC policy and want to get the IPO allotment under the policyholder category.
Please Note: This is not investment advice. beautyofdurgapur.com doesn’t recommend nor promote any investment option. The information provided above is for educational purposes only and is in the public interest.
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