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This Is What You Need And How Can You Apply? -By ASC


The much-anticipated initial public offering (IPO) by Life Insurance Corporation (LIC), India’s most recognized and largest insurance company, will open next week in the Rs 902-949 price range.

Recently, the LIC board reduced the size of the IPO to 3.5 percent from 5 percent. Still, it is likely to be the biggest IPO in the Indian market to date.

The state -owned company has filed a Draft Red Herring Prospectus and is awaiting SEBI’s approval. The government expects to raise Rs 21,000 crore from the IPO, which will be larger than the amount mobilized by Paytm’s IPO in 2021, the largest so far at Rs. 18,300 crore.

LIC is expected to offer a discount of Rs 60 to its policyholders and Rs 40 for retail investors and employees. Further details are expected to follow.

What is an IPO?

An initial public offering or IPO is the process of bringing a company public by listing it on a stock exchange such as the BSE and NSE. IPOs allow companies to raise capital from public investors by issuing new shares. An IPO is a big move for a company because it provides access to the company to raise a lot of money, which allows it even bigger to grow and grow.

How to apply for this IPO?

For policyholders:

– You must ensure that your LIC policy is linked to your Fixed Account Number (PAN).

– Make sure you have a Demat account and it is linked to your PAN card.

Now, you are ready to apply for an IPO. One of the easiest ways is to use a supported UPI app. These include Free Charge, Paytm, Google Pay, Phone-Pe and MobiKwik.

What are the alternatives?

– Log in to your net banking account. Select the IPO/e-IPO option from the investment section.

– Fill in depository and bank account information. This will close the verification procedure.

– Then select “Invest In IPO” from the menu. Select the IPO you want to apply for.

– Select LIC and enter the number of shares and the offer price.

– Select the “Apply Now” option to review and place your order.

– Your bank will restrict the application money until the bidding is finalized.

– If your offer is accepted, you will receive shares and the amount will be deducted from your account.

What documents do you need?

You must keep this document with you to open a Demat account and verify your KYC. The required documents are

– Proof of identity

– Proof of age

– Bank details

– Proof of signature

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