Want To Invest In LIC IPO? Here's How To Enroll For Share Allocation

The government of India is likely to list the Life Insurance Corporation (LIC), for initial public offering (IPO) on March 11, this year. LIC, which is the country’s largest insurer filed the draft herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 13. Touted as India’s biggest IPO, it involves the government offering for sale its entire stake at LIC at an amount of Rs 18,000 crore. IPO refers to the first issue of shares to the public of a company that is either privately owned or which is owned wholly by the government. It provides an opportunity for public investors to own shares in IPO-bound companies.  

All types of policyholders, whether new or existing, can apply for the IPO. According to the LIC website, up to 10 per cent of the LIC IPO issue size will be reserved for policyholders at a discounted price.

Here are the steps through which investors can participate in LIC IPO. 

• The investors should visit the website and link their permanent account number (PAN) card number with the policy. The last date of linking PAN number with LIC policy is February 28. 
• The investors will need to fill in all the necessary and relevant information in the form which is available on the website. 
• After entering the CAPTCHA code, verify the OTP and submit the form. 
• Investors can also log into various apps such as Religare-Pre Apply LIC App or Upstox App, where they can open a free zero brokerage Demat account within 10 minutes. 
• Once the account is created all IPO-related information, such as IPO issue date, IPO offer price, IPO issue size and IPO listing exchange will be available. 

Nitin Aggarwal, CEO of Religare broking said, “A single window for opening DEMAT Account and option to invest in LIC IPO will help the investors get notification on their smartphone and get ready for pre applying.”

‘Religare Pre Apply Policy App’ offers exclusive welcome benefits such as free brokerage for the first 30 days, 1 paisa brokerage across all segments, Rs 10000 discount vouchers from retail partner websites, free AMC along with full-service broking benefits such as research ideas and report for the Demat account holders. 

With over a million Demat account holders across more than 1100 branches, Religare Broking provides services in Equity, Currency, Commodity, Mutual Funds, Insurance, NPS and Depository services.