The Life Insurance Corporation of India (LIC) is ready to launch Dalal Street with early Mega Public Offering (IPO), which [pegged into the biggest in the history of the Indian market. To participate and utilize discounts, LIC policy holders need to ensure two things – first, they must have a Demat account and both of their insurance policies must be associated with PAN cards
According to LIC, February 28 has been designated as the deadline for connecting policies with PAN cards. This means that the LIC policy holder will not be able to subscribe to the IPO IPO if their PAN card is not linked.
LIC IPO: Discount for LIC policy holders
The LIC policy holder can claim a 10 percent quota provided for them only when their LIC policies and pots are linked.
LIC IPO: Feasibility of Policy Holder
According to the Red Herring Prospectus Draft (DRHP), the maximum bidding amount below the portion of the order of the policy holder by a qualified policy holder will not exceed ₹ 2 lakh (after deducting the policy holder discount). Furthermore, said the policy holder has one or more of the LIC policy on the DRHP date and the bid / offer opening date and which is an Indian occupant will be eligible to register in this offer, below the portion of the policy holder reservation.
LIC has ordered 10% of the total shares offered for policyholders, and 5% for employees. LIC has also ordered 35% of the shares for retail investors.
“Today is the last date for employees and policy holders to connect their policies from PAN cards to take advantage of a 10% discount for policy holders and 5% for employees,” said Ravi Singhal, Deputy Chairperson of GCL Securities.
Here is how LIC policy holders can link a skillet with their policy number
1) Open the official official website – https://licindia.in/.
2) Select the PAN registration option online from the veranda and then select ‘Click here’.
3) In the next window, read the instructions regarding the documents you need. Then, click ‘Continue’
4) Now, provide your details, including PAN, LIC policy number, cellphone number, and email address. Fill in the captcha in the designated box.
5) Request OTP from your registered mobile number.
6) Insert the OTP to the portal and then send it.