LIC IPO Set To Open On May 4: Here's How To Apply For It

LIC's long-awaited initial public offering is set to launch on May 4 with a price band of Rs 902-949. It is expected to be the largest-ever IPO in the country. The government is expecting to raise around Rs 21,000 crore by selling a part of its stake in India's largest and most recognised insurer. If the government manages to meet its target, the IPO will surpass Paytm's initial public offering by a huge margin. Paytm's IPO, the largest so far, raised Rs 18,300 crore in 2021. LIC has offered a discount of Rs 60 to its policyholders and a discount of Rs 40 to its employees and retail investors.

To apply for the IPO, you need to keep ready some documents for registration and verification purposes. You need to open a Demat account and get your KYC process completed. You will need these documents:

– Identity proof

– Age proof

– Bank details

You can open a Demat account using any of the several trading apps available and use a UPI-supported platform to make the trade.

Now, follow these steps to apply for the IPO?

– Log into your net banking account. There will be an option for IPO/e-IPO in the investment section. Select the option.

-- Fill in the bank account information and other details required to complete the verification process.

– Now, select “Invest In IPO” option. Choose “LIC” to apply and enter the number of shares and the bid price.

– Then hit the “Apply Now” option and place your order.

All investors should keep in mind that once you have applied for the IPO, their bank will block the money in the account until the bid is finalised. The money will be deducted from the account of all those investors whose bids are accepted.

For policyholders:

If you are a LIC policyholder, you will have to first link your both policy and Demat account with your Permanent Account Number (PAN).