IPO IPO: The draft documents of the LIC’s IPO will be submitted this weekend, reports have suggested. The Draft Red Herring Prospectus (DHRP) of Life Insurance Corporation of India’s initial public offering (IPO) was set to be ready Friday, but the process was ultimately delayed. However, the LIC board, meeting that day, approved the DHRP and cleared the way for the papers to be presented to market regulator Sebi.
While all of these processes continue, policyholders, who were given priority by the PSU prior to LIC’s IPO, are required to perform some work to participate in the share sale.
“To participate in such a public offering, policyholders must ensure that their PAN records are updated in the Corporation’s records. Further subscribing to a public offering in India is only possible if you have a valid DEMAT account,” LIC said in an advertisement last year, urging all policyholders to invest in the IPO.
Here’s how LIC policyholders can link PAN-LIC
1. Go to the official LIC website at the link https://licindia.in/ or visit the direct link at https://linkpan.licindia.in/UIDSeedingWebApp/
2. Select Online PAN Registration option on the home page and then click Continue
3. Provide your details including PAN, LIC policy number, mobile number and email address. You must be careful during this step and provide all details correctly
4. Enter Captcha in the appropriate box
5. Request an OTP from your registered mobile number
6. Enter the OTP in the portal and then submit
Here’s How to Open a Demat Account Prior to LIC .’s IPO
1. Choose a broker you want to open your demat account with. Online Banks, Stock Brokers and Digital Investment Platforms in India Offer Demat Accounts
2. Visit the broker’s website and start the procedure for opening a demat account and assign a nominee to your account
3. Fill out the form and then complete the KYC (Know Your Customer) process by providing relevant information
4. You must then provide scanned copies of documents such as proof of identity, proof of address, bank account statement and proof of income
5. Pay the fees required to trade with the brokerage after submission and verification
6. You also need to make an in-person verification with the brokerage firm, either online or by visiting their office. This step is mandatory
7. After your request to open a demat account has been approved, you will receive a unique 16-digit beneficial owner identification number, also known as the demat account number. This is used to access your demat account online
8. You are all set to begin your investment journey. Login to your demat account online and start trading
With a demat account, you can not only invest in LIC IPO, but also invest in other good stocks.
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