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LIC IPO - Details

The Life Insurance Corporation of India (LIC) IPO is likely to be the biggest initial public offering in the Indian stock market. Meanwhile, The government has reserved 10% which is around 3.16 crores of shares of LIC through IPO. Click here to Apply for LIC IPO.

Opening Date

May 4, 2022

Closing Date

May 9, 2022

Price Band

₹902 - ₹949

per equity share

Issue Size

21,000 Cr

Face Value

₹10

per equity share

Market Lot

15 Shares

Opening Date

May 4, 2022

Closing Date

May 9, 2022

Price Band

₹902 - ₹949

per equity share

Issue Size

21,000 Cr

Face Value

₹10

per equity share

Market Lot

15 Shares

Listing at NSE, BSE

LIC IPO Important Dates

IPO Open Date May 4, 2022
IPO Close Date May 9, 2022
Allotment Date May 12, 2022
Initiation Of Refunds May 13, 2022
Credit Of Shares To
Demat Account
May 16, 2022
IPO Listing Date May 17, 2022
UPI Mandate Expiry Date May 10, 2022

View all upcoming IPOs

LIC IPO Latest News and Subscription Status Today [Live]

At 5:05:00 PM.
  • This IPO has been subscribed 2.93x by 5:05 PM. on Day 6
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 2.83x
  • (NII) Non-institutional buyers: 2.91x
  • (RII) Retail Individual buyers: 1.97x
  • Employees: 4.36x
  • Policyholders: 6.05x
At 1:05:00 PM.
  • This IPO has been subscribed 2.16x by 1:05 PM. on Day 6
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 1.32x
  • (NII) Non-institutional buyers: 1.59x
  • (RII) Retail Individual buyers: 1.77x
  • Employees: 4.09x
  • Policyholders: 5.51x
At 11.40:00 AM.
  • This IPO has been subscribed 2.03x by 11:40 AM. on Day 6
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 1.14x
  • (NII) Non-institutional buyers: 1.37x
  • (RII) Retail Individual buyers: 1.71x
  • Employees: 4.00x
  • Policyholders: 5.37x
At 10.40:00 AM.
  • This IPO has been subscribed 1.98x by 10:40 AM. on Day 6
  • It is a public issue of 16,20,78,067 equity shares
Status of Subscription
  • (QIB) Qualified institutional buyers: 1.11x
  • (NII) Non-institutional buyers: 1.32x
  • (RII) Retail Individual buyers: 1.67x
  • Employees: 3.92x
  • Policyholders: 5.26x
At 5:05:00 PM.
  • This IPO has been subscribed 1.77x by 5:05 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.21x
  • (RII) Retail Individual buyers: 1.56x
  • Employees: 3.75x
  • Policyholders: 4.96x
At 4.05:00 PM.
  • This IPO has been subscribed 1.76x by 4:05 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.20x
  • (RII) Retail Individual buyers: 1.55x
  • Employees: 3.74x
  • Policyholders: 4.94x
At 3.05:00 PM.
  • This IPO has been subscribed 1.74x by 3:05 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.20x
  • (RII) Retail Individual buyers: 1.53x
  • Employees: 3.70x
  • Policyholders: 4.88x
At 2.05:00 PM.
  • This IPO has been subscribed 1.73 x by 2:05 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.19x
  • (RII) Retail Individual buyers: 1.52x
  • Employees: 3.68x
  • Policyholders: 4.85x
At 1.05:00 PM.
  • This IPO has been subscribed 1.72x by 1:05 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.19x
  • (RII) Retail Individual buyers: 1.51x
  • Employees: 3.65x
  • Policyholders: 4.82x
At 12.10:00 PM.
  • This IPO has been subscribed 1.71x by 12:10 PM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.18x
  • (RII) Retail Individual buyers: 1.50x
  • Employees: 3.63x
  • Policyholders: 4.78x
At 10.40:00 AM.
  • This IPO has been subscribed 1.69x by 10:40 AM. on Day 5
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.15x
  • (RII) Retail Individual buyers: 1.48x
  • Employees: 3.60x
  • Policyholders: 4.74x
At 5.00:00 PM.
  • This IPO has been subscribed 1.59x by 5:00 PM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.05x
  • (RII) Retail Individual buyers: 1.39x
  • Employees: 3.46x
  • Policyholders: 4.46x
At 4.30:00 PM.
  • This IPO has been subscribed 1.58x by 4:30 PM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.03x
  • (RII) Retail Individual buyers: 1.37x
  • Employees: 3.42x
  • Policyholders: 4.42x
At 4.00:00 PM.
  • This IPO has been subscribed 1.57x by 4:00 PM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 1.01x
  • (RII) Retail Individual buyers: 1.37x
  • Employees: 3.42x
  • Policyholders: 4.40x
At 2.10:00 PM.
  • This IPO has been subscribed 1.50x by 2:10 PM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 0.87x
  • (RII) Retail Individual buyers: 1.32x
  • Employees: 3.31x
  • Policyholders: 4.27x
At 1.10:00 PM.
  • This IPO has been subscribed 1.48x by 1:10 PM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.67x
  • (NII) Non-institutional buyers: 0.80x
  • (RII) Retail Individual buyers: 1.31x
  • Employees: 3.27x
  • Policyholders: 4.22x
At 11.40:00 AM.
  • This IPO has been subscribed 1.43x by 11:40 AM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.56x
  • (NII) Non-institutional buyers: 0.78x
  • (RII) Retail Individual buyers: 1.28x
  • Employees: 3.20x
  • Policyholders: 4.16x
At 10.40:00 AM.
  • This IPO has been subscribed 1.41x by 10:40 AM. on Day 4
  • It is a public issue of 16,20,78,067 equity shares
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.56x
  • (NII) Non-institutional buyers: 0.76x
  • (RII) Retail Individual buyers: 1.27x
  • Employees: 3.14x
  • Policyholders: 4.11x
At 5.15:00 PM
  • This IPO has been subscribed 1.33x by 5.15 PM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.55x
  • (NII) Non-institutional buyers: 0.69x
  • (RII) Retail Individual buyers: 1.19x
  • Employees: 2.96x
  • Policyholders: 3.89x
At 4.30:00 PM
  • This IPO has been subscribed 1.29x by 4.30 PM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.55x
  • (NII) Non-institutional buyers: 0.66x
  • (RII) Retail Individual buyers: 1.16x
  • Employees: 2.89x
  • Policyholders: 3.78x
At 3.15:00 PM
  • This IPO has been subscribed 1.25x by 3.15 PM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.53x
  • (NII) Non-institutional buyers: 0.60x
  • (RII) Retail Individual buyers: 1.12x
  • Employees: 2.79x
  • Policyholders: 3.67x
At 1.45:00 PM
  • This IPO has been subscribed 1.19x by 1:45 PM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.41x
  • (NII) Non-institutional buyers: 0.56x
  • (RII) Retail Individual buyers: 1.09x
  • Employees: 2.70x
  • Policyholders: 3.59x
At 12.40:00 PM
  • This IPO has been subscribed 1.15x by 12:40 PM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.41x
  • (NII) Non-institutional buyers: 0.54x
  • (RII) Retail Individual buyers: 1.06x
  • Employees: 2.60x
  • Policyholders: 3.50x
At 11.30:00 AM
  • This IPO has been subscribed 1.10x by 11:30 AM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.40x
  • (NII) Non-institutional buyers: 0.50x
  • (RII) Retail Individual buyers: 1.01x
  • Employees: 2.46x
  • Policyholders: 3.35x
At 10.40:00 AM
  • This IPO has been subscribed 1.08x by 10:40 AM. on Day 3
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.40x
  • (NII) Non-institutional buyers: 0.49x
  • (RII) Retail Individual buyers: 0.98x
  • Employees: 2.35x
  • Policyholders: 3.26x
At 5.15:00 PM.
  • This IPO has been subscribed 0.97x by 5:15 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.40x
  • (NII) Non-institutional buyers: 0.44x
  • (RII) Retail Individual buyers: 0.88x
  • Employees: 2.06x
  • Policyholders: 2.90x
At 4.25:00 PM.
  • This IPO has been subscribed 0.95x by 4:25 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.40x
  • (NII) Non-institutional buyers: 0.42x
  • (RII) Retail Individual buyers: 0.86x
  • Employees: 2.01x
  • Policyholders: 2.86x
At 3.35:00 PM.
  • This IPO has been subscribed 0.91x by 3:35 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.34x
  • (NII) Non-institutional buyers: 0.39x
  • (RII) Retail Individual buyers: 0.84x
  • Employees: 1.94x
  • Policyholders: 2.79x
At 2.20:00 PM.
  • This IPO has been subscribed 0.87x by 2:20 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.34x
  • (NII) Non-institutional buyers: 0.35x
  • (RII) Retail Individual buyers: 0.80x
  • Employees: 1.82x
  • Policyholders: 2.64x
At 1.35:00 PM.
  • This IPO has been subscribed 0.85x by 1:35 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.34x
  • (NII) Non-institutional buyers: 0.34x
  • (RII) Retail Individual buyers: 0.78x
  • Employees: 1.77x
  • Policyholders: 2.59x
At 12.25:00 PM.
  • This IPO has been subscribed 0.81x by 12:25 PM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.34x
  • (NII) Non-institutional buyers: 0.32x
  • (RII) Retail Individual buyers: 0.75x
  • Employees: 1.63x
  • Policyholders: 2.47x
At 11.40:00 AM.
  • This IPO has been subscribed 0.79x by 11:40 AM. on Day 2
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.34x
  • (NII) Non-institutional buyers: 0.30x
  • (RII) Retail Individual buyers: 0.72x
  • Employees: 1.57x
  • Policyholders: 2.41x
At 05.05:00 PM.
  • This IPO has been subscribed 0.63x by 05:05 PM. on Day 1
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.33x
  • (NII) Non-institutional buyers: 0.25x
  • (RII) Retail Individual buyers: 0.56x
  • Employees: 1.04x
  • Policyholders: 1.84x
At 04.05:00 PM.
  • This IPO has been subscribed 0.57x by 04:05 PM. on Day 1
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.29x
  • (NII) Non-institutional buyers: 0.13x
  • (RII) Retail Individual buyers: 0.53x
  • Employees: 0.95x
  • Policyholders: 1.76x
At 03.05:00 PM.
  • This IPO has been subscribed 0.47x by 03:05 PM. on Day 1
  • It is a public issue of 16,20,78,067 equity shares.
  • Status of Subscription
  • (QIB) Qualified institutional buyers: 0.03x
  • (NII) Non-institutional buyers: 0.11x
  • (RII) Retail Individual buyers: 0.49x
  • Employees: 0.84x
  • Policyholders: 1.61x
At 02.00:00 PM.
  • This IPO has been subscribed 0.41x by 02:00 PM. on Day 1
  • It is a public issue of 16,20,78,067 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.03x
  • (NII) Non-institutional buyers: 0.09x
  • (RII) Retail Individual buyers: 0.44x
  • Employees: 0.72x
  • Policyholders: 1.41x
At 01.00:00 PM.
  • This IPO has been subscribed 0.28x by 01:00 PM. on Day 1
  • It is a public issue of 4,57,26,705 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.08x
  • (RII) Retail Individual buyers: 0.37x
  • Employees: 0.59x
  • Policyholders: 0.75x
At 12.00:00 PM.
  • This IPO has been subscribed 0.22x by 12:00 PM. on Day 1
  • It is a public issue of 3,43,90,740 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.05x
  • (RII) Retail Individual buyers: 0.30x
  • Employees: 0.46x
  • Policyholders: 0.58x
At 10.45:00 AM.
  • This IPO has been subscribed 0.09x by 10:45 AM. on Day 1
  • It is a public issue of 1,46,66,445 equity shares.
  • Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.02x
  • (RII) Retail Individual buyers: 0.11x
  • Employees: 0.17x
  • Policyholders: 0.27x

LIC IPO - Perks for Policyholders

LIC has reserved 10% of IPO shares for policyholders. Also, an Additional discount of Rs 60 per share for policyholders.

LIC policyholders can apply under this quota only if:

  • The policy is issued on/before 13 Feb 2022
  • The PAN is linked to LIC Policy

Important Links for Policyholders

About LIC of India

LIC is owned by the Government of India. It is the only life insurance company with an extensive presence in rural and urban areas. It operates through 8 zonal and 113 divisional offices.

LIC IPO Objectives

- The government aims to get 21,000 crores by offloading 3.5% of its shares.
- Enhance the brand image & provide a public market for the equity shares in India.

Why should you invest in LIC IPO?

Below are your top 2 reasons:

• LIC has 65 years of lineage and a network of 13 lakh agents.

• Has a reliable risk management framework.

Financial highlights

Financial Year Total Assets (in Cr) Profit After Tax (in Cr)
FY 2020 - 21 Rs. 37,46,404 Rs. 2,974
FY 2019- 20 Rs. 34,14,174 Rs. 2,710
FY 2018 - 19 Rs. 33,66,335 Rs. 2,627

LIC’s investee companies

Here are some of the most noteworthy investees of LIC :

Stock Quantity Held Holding %
Canara Bank 133,627,205 8.11%
PTC India Ltd. 17,654,072 5.96%
Bank of Baroda 248,334,291 4.80%
ABB Power Products and Systems India Ltd. 1,881,348 4.44%
Biocon Ltd. 49,374,988 4.11%
Titan Company Ltd. 35,163,104 3.96%
ABB India Ltd. 8,376,287 3.95%
Reliance Infrastructure Ltd. 6,989,930 2.68%
Hindustan Zinc Ltd. 96,246,636 2.28%
Aditya Birla Capital Ltd. 51,407,882 2.13%
Aban Offshore Ltd. 1,000,000 1.71%
BEML Ltd. 515,435 1.24%
Indian Overseas Bank 228,087,493 1.21%

How to apply for LIC IPO?

Here is your quick checklist for LIC IPO:

UPI

  • Link your bank account to a UPI ID.
  • Register your UPI id with your Demat account.
  • Subscribe for LIC IPO and approve the payment on your UPI ID.

Demat Account

For HNI Investors
You can also apply for LIC IPO under the HNI category where your investment should be between 2 Lakhs to 5 Lakhs. Additionally, 15% of IPO shares are reserved for HNIs.

LIC IPO - Noteworthy Highlights

LIC is the only government-owned insurance company in the country. The entity was formed by merging around 245 insurance companies. Other highlights include :

• Besides life insurance, the company also extends mutual funds, pension funds, housing finance, and card services.

• As of 31 March 2021, there were around 13.53 lakhs individual LIC agents.

• It has more than 1.14 lakh employees. LIC employees are also offered a discount of Rs.45/- per share.

LIC IPO - SWOT Analysis

Strengths

  • Multiple offerings: LIC offers various insurance plans. The most popular products include life insurance policies, money back plans, endowment plans, insurance riders, and term insurance plans.
  • Diversified business portfolio: LIC boasts a diversified business portfolio. Some of its most noteworthy lines of business include LIC Housing Finance, LIC Pension Fund, LIC Card Services, and LIC Mutual Fund.
  • Sizeable fund base: The company operates with a fund base of nearly Rs. 289.57 crores. Additionally, India's largest investor has a robust financial standing with sufficient flexibility to grow and expand its portfolio further.

Weaknesses

  • Restrictions on PSU: LIC is subject to various restrictions since it's a PSU. Such restrictions could emerge as a roadblock to the operational and expansion goals of this company.
  • Large workforce: LIC has more than 1 lakh employees. Maintaining such a large workforce can become challenging, especially during a financial crisis.

Opportunities

  • Online services: The online offerings of LIC cater to a large pool of tech-savvy customers. LIC could tap into the urban market like never before by leveraging the IPO proceeds to establish an extensive digital footprint.
  • Increase in disposable income: A surge in individuals' disposable income and greater awareness about the importance of being insured could continue to favour LIC's growth.

Threats

  • Competition: Several private insurance policy companies and NBFCs are now active in the market. The unique offerings and more customised services of these competitors could pose a threat to LIC.
  • Changes in the fiscal policy: Changes in RBI's monetary and fiscal policies can prompt LIC to modify its policies accordingly. Such changes can be counterintuitive to the company's earnings or scope of operations.

Competitive Analysis: Market Peers

LIC of India is the largest life insurance policy provider in the country with a massive market capitalisation.

However, these entities are among LIC's most noteworthy competitors. The table below offers an insight into its competitors and their market capitalisation as of 24 February 2022.

Competitor Market capitalisation (in Cr)
HDFC Life Insurance Rs. 1,13,000
SBI Life Insurance Rs. 1,05,000
ICICI Lombard General Insurance Company Rs. 67,170
ICICI Prudential Life Insurance Rs. 60,980
General Insurance Corporation of India Rs. 19,470
New India Assurance Company Rs. 18,820

LIC IPO FAQs

What is LIC IPO?

The government is diluting its stake in LIC through this upcoming IPO. It is an invitation for the public to participate in its ownership. Post listing, the company will come under the regulations of SEBI.

Is it necessary for policyholders to have a demat account to apply for shares in the Offer? There are many variations of passages

Yes. As per SEBI ICDR Regulations, no equity share can be issued by any company in physical form and the equity shares can only be issued in dematerialized form. Hence, any one, whether policyholders or retail investors, should have a demat account for applying in the Offer.

Is there any lock-in period for the shares purchased through the Policyholder Reservation Portion?

There is no lock-in period and the policyholders can sell the EquityShares immediately on listing of the Equity Shares, if they choose to do so.

I am having a policy in SBI Life Insurance. Can I apply for the Equity Shares of the Corporation in the Offer under the Policyholder Reservation Portion category?

No, Bidding under the Policyholder Reservation Portion is only for policyholders of LIC Corporation. However, you can apply under RIB or Non-Institutional Bidders category.

Is there any minimum number of Equity Shares for which the policyholders need to apply?

There is a minimum number of 15 Equity Shares which will have to be applied under the Offer in respect of all categories. Hence, Eligible Policyholders also have to apply for the said minimum 15 number ofEquity Shares, as specified in the Offer Documents.

Can a policyholder apply from the demat account of his/her spouse or son or a relative?

No. The policyholder has to have the demat account in his/her name.

I am having a Pradhan Mantri Vaya VandanaYojana policy. Whether I am eligible to apply for the Equity Shares of theCorporation in the Offer?

Yes, all policies other than group policies qualify for Bidding in the Policyholder Reservation Portion.

When will LIC IPO open for subscription?

LIC’s IPO will open for subscription from 4 May to 9 May.

What is the minimum lot size that retail investors can subscribe?

The Minimum LIC IPO market lot size is 15 shares.

When is the LIC IPO listing date?

The public issue will list on both NSE and BSE and the tentative listing date of the public issue is 17th May 2022.

How will I receive shares?

The LIC shares will be credited to the Demat account post allotment.

Who are the merchant bankers for LIC IPO?

The Central Government has appointed ten merchant bankers for this upcoming IPO. Citigroup Global Markets India, Goldman Sachs (India) Securities and Nomura Financial Advisory and Securities India are among the ten merchant bankers.

What is the minimum order quantity for LIC IPO?

The minimum order quantity for LIC IPO is 15 shares.

Who is the registrar for LIC IPO?

Kfintech is the registrar for LIC IPO.

Which categories of investors are allowed to participate in this IPO?

Retail individual, NIB, and QIB are the expected categories that can participate in this IPO.

Is it necessary to approve a UPI mandate request immediately?

Yes, it is ideal to approve a UPI mandate request straightaway. It is even better if you accept it as soon as you get it. Nonetheless, this approval window stays open from the closing bell of the previous working day to 12 noon of the next working day.

How to create a UPI ID using the BHIM app?

To create a UPI ID using the BHIM UPI app, you can refer to these below-mentioned steps –
Step 1: Download and install the BHIM UPI app on your smartphone
Step 2: Authenticate your mobile number and create a password or PIN required to use this app
Step 3: Select a bank from NPCI’s list of approved financial institutions
Step 4: This BHIM UPI app will then get your bank account details without putting them manually
Step 5: In case you have more than one bank account, select one that you want to register and connect with this app
Step 6: Create a personal UPI ID for security reasons You can check your UPI ID afterwards in the ‘Profile’ section of this app.

How to approve the UPI mandate request for the LIC IPO?

To approve a UPI mandate request for this LIC IPO or any other public offering is via UPI. To know more about the mechanisms of this procedure, or to access a guide, click here.

Can I apply for this LIC IPO without a UPI ID?

Yes, you can apply for this LIC IPO without a UPI ID. However, in such cases, you can take the assistance of the ASBA process provided by a bank to apply for an initial public offering. Also, if you do not have a UPI ID, you can swiftly generate one without any hassle by referring to any of the UPI handles approved and mentioned on the NPCI list.

How to apply for this LIC IPO via the Angel One App?

To apply for this IPO of Life Insurance Corporation of India using the platforms of Angel One, follow the steps mentioned below –
Step 1: Visit the ‘investment opportunities’ section on the Angel One mobile app
Step 2: Navigate to the ‘IPOs and FPOs’ section and provide all the required details
Step 3: Provide your NPCI approved UPI handle
Step 4: Click on ‘invest’ and submit your bid for this public issue of LIC

What is the reason behind my failure to apply for this LIC IPO using my existing UPI handle?

The reason behind your failure to apply for this LIC IPO using your current UPI handle may be due to the fact that your UPI service provider may not have NPCI’s approval to extend UPI service. Since you can only use UPI service providers approved by NPCI for the same, you can look into its official list of approved apps. After that, you can register with any of them and apply for an IPO.

I have approved the UPI mandate request of LIC’s public issue; but, its position on the Angel One app is still pending. So, what can I do now?

The reason behind this mandate request status displaying pending on the Angel One app is due to the fact that this platform is not equipped to show real-time updates. However, if you have approved this request, you can find its current status in the order book of respective public issues.

Can I apply for LIC’s public offering using a bank account not connected with the Angel One App?

Yes, you can apply for the LIC’s public offering using a bank account not connected with the Angel One App. However, this bank account must be in your name.

I cannot locate my UPI ID in the dropdown menu of the Angel One App while applying for LIC IPO. What can be the reason?

One of the main reasons for not being able to locate a UPI ID in the dropdown menu of the Angel One app is that it does not have NPCI’s approval. In that case, you can create an alternative UPI ID via service providers stated in the NPCI list.

How quickly can I anticipate getting a UPI mandate request after completing my application for LIC IPO?

You can expect to receive a UPI mandate request against your LIC IPO application within 15 to 20 minutes after submitting your application. Nevertheless, this process can get hindered at times due to different reasons.

Is it possible to use a current account to apply for this LIC IPO?

No, it is not possible to use a current account to apply for the public offering of Life Insurance Corporation of India or any other IPO for that matter. Banks do not accept any public issue applications submitted via current accounts. Thus, it is ideal to apply for IPOs through savings accounts. Additionally, you can contact your respective banks for additional details regarding this.

Is it possible for NRIs to use Angel One App to apply for LIC IPO?

No, it is not possible for NRIs to use the Angel One App to apply for the public offer of Life Insurance Corporation of India. On the other hand, they can always apply for any public offering via the Application Supported by Blocked Amount (ASBA) process. They can contact their particular banks to know more about this procedure.

Is it possible to apply for the public issue of LIC using my minor daughter’s bank account?

No, it is not possible to use your minor daughter's bank account to apply for this LIC’s public issue or any other IPO. Besides, the Angel One App does not have that facility where you can take help from your minor daughter’s bank account to apply for public issues. However, minors can apply for an IPO that they want via the ASBA process through a bank of their choice.

Can I submit more than one application for the public issue of LIC using one PAN?

No, you cannot submit more than one application for this LIC IPO or any other public issue using one PAN. The reason is, in case you decide to submit multiple IPO applications using one PAN, you will not receive a sanction. Therefore, you will ultimately fail to receive an allocation of a specific public issue.

Can I alter my bid for LIC’s IPO after confirming its final application?

Yes, you can change your bid for the IPO of LIC after approving its final application. Here, you can amend the lot size and the UPI ID. But, keep in mind that any modifications you make after approving the UPI mandate request will be counted as a new bid. In such instances, the banks will block funds again and besides your former application. Simultaneously, you will get a new UPI mandate request for this recent bid, just like before.

Is it possible to use my Hindu Undivided Family account to apply for LIC’s public issue?

No, it is not possible to apply for LIC’s public issue using your Hindu Undivided Family account using the Angel One platform. However, if you use the ASBA procedure stated by banks for this purpose, then you can take the help of your Angel One account for this purpose.

I have finished the application process for LIC’s IPO, but the funds are not yet debited. What is the reason?

The reason behind your funds for this LIC IPO not getting debited is that, initially, banks block this amount following your submission of bid, and they do not release it. They keep this amount locked till you get an allocation or your UPI mandate expires. Nonetheless, if you get your allotment of LIC’s IPO or any other, banks will debit this amount.

What is a cut-off price? Can I apply at this price point?

The price at which the shares of LIC or any other company get listed on the stock market is known as the cut-off price. This is a pre-set price, and it is decided in the allocation stage of a public issue.
Yes, you can apply for an IPO at this price point. Moreover, if you do so, it specifies that you are interested in bidding for the LIC IPO at this price point. Besides, applying at a cut-off price also increases your chance of getting an allotment.

What can be the reason for the rejection of my application for LIC’s IPO?

Here are some possible explanations for the refusal of your LIC IPO application –
      ● Providing an incorrect UPI PIN when approving your UPI mandate
      ● Failing to ensure that your UPI ID, Demat account, and bank account are linked with the same PAN

For instance, if you use your personal Demat account to apply for this public issue and your friend’s UPI ID to make payment. In that case, your application can be disallowed –
      ● If your friend’s UPI ID and your PAN are not linked
      ● If your friend’s bank account is not connected with your Demat account

Do I need to pay any extra charges to apply for this LIC IPO?

No, you do not need to shell out anything extra to apply for any public issue using the Angel One app or platform.

How can I get assurance for LIC IPO allotment?

There is no way to assure allotment for the LIC IPO or any other public issue that you have decided to apply for. Since oversubscription is a common affair here, shares are allocated via a lottery system. So, it is not possible to promise allotment of any public offer.
Nevertheless, you need to keep in mind that the Angel One platform only allows you to apply for an IPO, and it does not offer any guarantee regarding the allotment.
But, you can increase your chances by following some tips –
      ● Using a Demat Account linked with your PAN
      ●Applying at the cut-off price
      ●Confirm that your bank account and UPI ID are linked through a single PAN, and failing to keep that can lead to rejection. For instance, person X has applied for the Shriram Properties IPO via his Demat Account but person Y’s UPI ID. In such cases, the application can get rejected due to –
      ●Person Y’s UPI ID is not linked with X’s PAN
      Person X’s Demat account is not linked with Y’s bank account

What is the required time period to block or unblock the funds of an IPO subscription?

After authorising a UPI mandate request, the funds required for an initial public offer will be blocked. Nonetheless, these funds will be only released if your UPI mandate terminates or if you fail to get an allotment.
Nevertheless, if the funds are not released even after these two developments, get in touch with your bank to sort this out.

How to discover my UPI ID in the Angel One mobile app?

You can find the UPI ID in the ‘profile’ section of any UPI app. Additionally, you can click here to learn more about this procedure in length and how to access it across different apps.

Is there a special discount announced for LIC IPO?

LIC Policyholders are offered a discount of Rs.60/- per share, additionally LIC employees are also offered a discount of Rs.45/- per share.

What would be the listing gains on LIC IPO?

While it is not easy to predict listing gains of any IPO, it will be dependent on more than one factor.
      1. Market movement on the day of listing.
      2. Supply of LIC shares in the market and demand from investors/trade.
      3. Investor's interest especially across HNI, Policyholders, and employees.

How is the bidding and allotment different across Policyholder and retail quota ?

Quota Bidding at Max Bid Amount (₹) Basis of Allotment if respective category is oversubscribed UPI Syndicate ASBA
HNI At price NA Proportionate Yes(Up to ₹5 lakh) Yes
Retail Cut off Not above ₹2 lakhs Draw of Lot Yes No
Policy Holders Proportionate Yes No
Employee Proportionate Yes Yes

Can I apply under multiple quotas - Policyholder quota/ employee or HNI ?

Employee Quota Policyholder Quota Retail HNI Eligibility status of such bids.
Applied Applied Applied Not Applied All bids are valid and won't be rejected as multiple bids.
Applied Applied Not Applied Applied All bids are valid and won't be rejected as multiple bids.
Applied Applied Applied Applied Application made in the policyholder reservation portion and employee reservation portion category would be considered as valid bids. However, rest of the bids across retail and HNI will be canceled as multiple bids.

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