Apply LIC IPO For Policyholders, Benefits, Know Eligibility In details

Apply LIC IPO For Policyholders

If you are also thinking of applying for lic ipo policyholders, this post is for you. Because from here you can easily get the information of how to apply lic ipo as policy holder. For this you only have to read this post completely. through this post will know all the answer of this question How LIC policyholders can apply for IPO, how to apply lic ipo for policyholder and more.

About LIC IPO for policyholders

LIC initial public offering (IPO) opened for subscription today on May 4 and is scheduled to close on May 9. On Saturday, May 7, retail investors will be able to bid on the issue.. The company’s shares will be listed on both NSE and BSE, possibly on May 17.

According to LIC management, there is an employee reservation of 1.58 crore shares while 2.21 crore shares are reserved for policyholders. Retailers and employees would receive a Rs 45 discount, while policyholders will receive a Rs 60 discount.

The price range for LIC IPO band from Rs 902 to Rs 949 per share, in which the government is going to sell 22,13,74,920 shares for a total of Rs 21,000 crore.

As per the Axis Bank website, “Since LIC is a household name and enjoys operating with a major market share (with over 60% in terms of premium) in the Indian insurance sector. It is expected to receive a good response from investors such as retail, HNI, and institutional.”

LIC IPO date details

  • Bidding starts: 04 May ‘22
  • Bidding ends: 09 May ‘22
  • Allotment finalisation: 12 May ‘22
  • Refund initiation: 13 May ‘22
  • Demat transfer: 16 May ‘22
  • Listing: 17 May ‘22

What is Eligible for Applying LIC IPO as Policyholders

Talking about its eligibility, under the policyholder category, policyholders who have linked their PAN with their LIC policies with a Demat account in their name will be eligible to participate in the IPO. The same people can apply for LIC IPO as a policyholder for this.

If you are already a LIC policyholder, here is” how you can apply for an IPO in Hindi“. Follow the step carefully.

LIC IPO benefits to policyholders

What is the benefit of LIC IPO?– In the initial public offering (IPO) of Life Insurance Corporation of India (LIC), it has been announced to reserve 10 % quota for existing policyholders. The main advantage of applying under the policyholder reservation section is that applicants will get a discount of Rs.60 on the IPO price. and ₹ 45 to LIC employees applying for public issues. will get a discount.

How to Subscribe to LIC IPO through Bank

Follow the given steps to subscribe to LIC IPO through the bank.

Step 1: First of all, you need to ‘Log in’ to your net banking account.

Step 2: Now Under the Investment section, click on the option IPO/e-IPO.

Step 3: Enter all the required details to complete the registration process.

Step 4: Select the LIC IPO option to invest, the number of shares and the bid price to be entered.

Step 5: Click on the “Submit or Apply Now” option to place your order.

Note: Friends, the steps may vary depending on the bank, so please note that once the amount is entered, it is blocked till the finalization of the bid. Money will be deducted from the accounts of all investors whose bids are accepted.

How Policyholders Buy LIC IPO Through Demat Account?

Policyholders have to follow the given steps to buy LIC IPO through any Demat account.

Apply LIC IPO For Policyholders
Apply LIC IPO For Policyholders

Step 1: First of all, Log in to your any Demat account.

Step 2: After that from the menu click on the IPO section.

Step 3: Now you have to select the LIC IPO tab. View the policyholder’s category and fill in your details, place the bid and then click on the submit button.

Step 4: After that accept the mandate from the participating bank.

Step 5: After that select ‘Apply Now’ from the menu option.

Step 6: Then, to purchase LIC IPO shares at discounted rates, process the payment using UPI or any other online payment mechanism.

How to open a Demat account?

Follow the given steps to open a Demat account.

Step 1: First of all choose the right broker. With which you will have to open an account.

Step 2: After that visit the official website and start the Demat account opening process.

Step 3: Provide all the required information for Know Your Customer (KYC).

Step 4: For KYC completion, the following documents such as identity proof, bank account details, income proof, and scanned copies of photographs have to be provided.

Step 5: After submitting and verifying all the documents, pay the required amount for trading.

Step 6: At the end of the process you will get a unique 16-digit Beneficial Owner Identification Number (Demat Account Number). Which can be used to access Demat accounts online.

Step 7: Now you can login with your Demat account number and log in to your investments.

Read more – Tata Credit Card Login and How to Apply for Tata Credit Card

FAQ – LIC IPO

What is LIC IPO price for policyholders?

Discount for policyholders: The Government of India (GoI) has fixed the LIC IPO price range from ₹902 to ₹949 per equity share. It has also been announced that policyholders will get a rebate of ₹60, and LIC employees applying for a public issue will get a rebate of ₹45. The public issue is scheduled to be open for bidding till May 9, 2022.

Which policyholders can’t apply under quota?

Those holding LIC policy under the group insurance scheme will not get the benefit of the policyholder quota. Also, NRIs cannot apply for an IPO under the same category.

How to Buy LIC IPO Shares?

Investors wishing to buy shares during the LIC IPO can use various brokerage apps like Grow, Upstox and Zerodha or use the platform of any other Depository Participant (DP) to book the issue. Here is a step-by-step guide.

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