Complete These Required Tasks in Order to Participate in the LIC IPO.
The largest life insurance company in India, the government-owned Life Insurance Corporation of India (LIC), is planning an initial public offering (IPO) in which it will sell a portion of its stock to the general public.
The government expects to generate enough cash to meet its Rs 78,000-crore divestiture target for 2021-22 if LIC issues a public offering worth between Rs 12 lakh and Rs 15 lakh crore.
The Insurance Regulatory and Development Authority of India (IRDAI) has approved LIC India’s proposal to conduct an initial public offering (IPO) of shares. According to Bloomberg, the government intends to sell a 5% stake in the LIC on February 10, 2022. The IPO will be the largest in the country’s history when it is launched.
As an investor, if you want to participate in the upcoming mega LIC IPO, you must first complete a few requirements. If you are a LIC policyholder and want to apply through the LIC IPO “Policyholder” Category, you must do the following:
- The policyholder’s PAN should be updated on the LIC website.
- You can only apply for an IPO if you have a Demat account.
- Your Aadhaar Number is linked to your LIC policy.
- Connect You Pan to LIC policy.
- Update your LIC policy information.
- Verify the status of the PAN and LIC connection.