LIC IPO: How Can I Apply As A Policyholder?

By Angel One | Updated on 6 May 2022 | 6098

LIC IPO: How Can I Apply As A Policyholder?

LIC IPO is one of the most keenly-awaited IPOs in the market. The government has decided to disinvest a 3.5% stake in the company to raise Rs 21,000 crore in funding from the market.

LIC has more than 27 crore policyholders and if you are one among them, you have more than one reason to be excited about it.

  • Firstly, 10% of IPO shares have been reserved exclusively for existing policyholders.
  • Also, Additional discount of Rs 60 per share for policyholders

Steps to apply to LIC IPO as a Policyholder

As a policyholder, you will have to do two things to apply for the LIC IPO when it launches.

PAN Card – Policy Linking

Now for a long time, LIC has been trying to get its policyholders to link their PAN cards with their policies. Taking the IPO as a chance, the company has urged all interested policyholders to update their PAN details on LIC’s website. To be eligible for the policyholder’s quota, the policyholder must have PAN linked to LIC Policy.

You can check if your PAN is linked with LIC Policy.

And if your PAN is not linked, then you can Link your Pan card on LIC India within 2 minutes.

Open Demat Account

You would need a Demat account to apply for an IPO. To open a Demat account, you will need to do :

  1. Apply online by filling up a simple form
  2. Submit documents – identity proof, address proof, bank account details, and signature proof

The account opening process in Angel One is simple and requires minimum documents. Moreover, there is no charge for Opening a Demat account.

If you are existing user of Angelone, Apply Now and avoid last minute hustle

Conclusion

Any investor with a PAN card and a Demat account can apply for LIC IPO but LIC policyholders will have a better chance of allotment because of the policyholder quota. So, for any policyholders who wish to get this offer, make sure you have a Demat account in your name and your PAN is linked to your LIC policy before applying. Simple. Isn’t it?