Finance
The long-awaited initial public offering of LIC is set to begin on May 4 with a price range of 902-949. It is expected to be the largest IPO in the country’s history. The government expects to raise approximately 21,000 crore by selling a portion of its stake in India’s largest and most well-known insurer. If the government meets its target, the IPO will vastly outperform Paytm’s initial public offering. Paytm’s IPO in 2021 was the largest so far, raising Rs 18,300 crore. LIC has offered a 60 discount to policyholders and a 40 discount to employees and retail investors.
To apply for the IPO, you need to keep ready some documents for registration and verification purposes.You need to open a Demat account and get your KYC process completed. You will need these documents:
– Identity proof
– Age proof
– Bank details
You can open a Demat account using any of the available trading apps and then trade using a UPI-supported platform.
Follow these steps to apply for the IPO-
– Log into your net banking account. There will be an option for IPO/e-IPO in the investment section. Select the option.
— Fill in the bank account information and other details required to complete the verification process.
– Now, select “Invest In IPO” option. Choose “LIC” to apply and enter the number of shares and the bid price.
– Then hit the “Apply Now” option and place your order.
All investors should be aware that once they apply for the IPO, their bank will freeze the funds in their account until the bid is finalised. All investors whose bids are accepted will have money deducted from their accounts.
For Policyholders-
If you have a LIC policy, you must first link your policy and Demat account to your Permanent Account Number (PAN).
