Life Insurance Corporation (LIC) is likely to list for initial public offering (IPO) on March 11. India’s largest insurance company 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 a 5 per cent stake in LIC. IPO refers to the first issue of shares to the public of either a privately-owned company or a company that is wholly owned 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. Notably, today is the last day to register for LIC 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 is how the policyholders can still register for LIC IPO to avail benefits:
- Visit the LIC website and enter the LIC policy number, Date of Birth, permanent account number (PAN).
- Enter the correct captcha.
- For linking the PAN card with LIC policy, policyholders will need to click on the ‘Proceed’ option at the bottom of the page.
- Enter all the information as given in the PAN card, such as Full Name, Date of Birth, PAN, Gender, Mobile Number, Policy Number. In case the investor holds multiple policies, click on ‘Add Policy’ to enter another policy.
- After clicking on the deceleration checkbox, enter the CAPTCHA. The policyholder will receive OTP in the registered mobile number. Enter the OTP and click on the ‘SUBMIT’ option.
- The status of allotment for the LIC IPO is available on the NSE website. It is also available on the apps, through which the policyholders have registered for IPO.