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How to Apply LIC IPO for Policyholders
About LIC IPO
Govt owned Life Insurance Corporation of India’s (LIC) mega IPO (initial public offering) in March 2022. The LIC filed its draft red herring prospectus (DRHP) on February 13, preparing the ground for the biggest IPOs in India.
LIC valuation is approx 15 trillion rupees (15 Lakh Crore / $200 Billion) according to govt and govt sell the 5% of the stack through an initial public offering (IPO) that value estimated 50 thousand crores to 70 thousand crores. Because the Govt hasn’t as of now disclosed the issue size.
LIC was founded on 1st Sep 1956 by the Life Insurance of India act in parliament. Currently, govt owned 100% of a stack in LIC and as of date, LIC has 29 crores policyholders, 70% market share of Individual policyholders, and 80% market share of group policyholders.
LIC IPO for Policyholders
LIC IPO for Policyholders: Govt has reserved the 10% of IPO for policyholders, Overall 3.16 crore shares are on offer out of the 63.25 crores owned by the Govt. Policyholders bidding under the ‘Policyholder Reservation Option’ can bid through the applications supported by the blocked amount (ASBA) and the UPI.
Last date to link your PAN on the LIC portal by 28th February 2022 for LIC IPO for Policyholders.
1- PAN card link to your LIC Policy Account
2- Demat Account
How to Link PAN in LIC
Here is the process of linking PAN Card to the LIC portal.
Fill in the following details on the form.
- Date Of Birth(dd/mm/yyyy) as per PAN
- Email Id
- Full Name As Per PAN
- Mobile Number
- Policy Number (Please click Add Policy once you enter policy number)
- Tick the declaration box and acceptation for PAN details you provide
- Enter the captcha code
- Click on Get OTP
- Enter the OTP on your mobile that you have entered
- Verify the OTP
and your LIC policy would be linked.
Update the KYC on LIC Policy
Make sure that your KYC is updated on your LIC policy and you will have to update it before you apply for the IPO.
Here is you can update your LIC details
- Click here https://licindia.in/ Login and click the eServices
- Update your KYC details
- KYC will be updated after successful verification
Checking Status of PAN and LIC Link
If you link your PAN to LIC earlier or recently, you can make sure that and check the status of your PAN is linked or not.
Click on https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus and visit the PAN link status page.
Here you put your PAN and LIC policy details
- Policy Number
- Date Of Birth(dd/mm/yyyy)
- Your PAN
- Enter the captcha code
- Click the Submit
After submitting you can see your linking status.
All details provided to you as per LIC notify in Public.