How LIC policyholder can apply for IPO
2 min read . Updated: 05 May 2022, 01:08 PM IST
Premium- LIC policyholders have two ways to apply for the LIC IPO online — through net banking or through demat account login
LIC IPO (Initial Public Offering) is available for subscription and it will remain open for bidding till 9th May 2022. As expected LIC policyholders have responded strongly toward this public offer of the insurance behemoth. By 12:33 PM on day 2 of bidding, LIC IPO subscription status informs that policyholder portion of the issue has been subscribed 2.49 times. This was expected by market observers ahead of the public offer opening as a good number of LIC policyholders had opened demat account to apply for LIC IPO. However, due to being a new demat account holder, some policyholder might face it difficulty in applying for the IPO online.
For such applicants, they have two ways to apply for the LIC IPO online — through net banking or through demat account login. However, to become eligible for applying under policyholders category, one must have bought its LIC policy on or before 13th February, the day LIC had submitted DRHP (Draft Red Herring Prospectus) at SEBI and the LIC policy must have been attached with its PAN by 28th February 2022.
How to apply for LIC IPO through net banking
1] Login to net-banking using your credentials;
2] Go to investment option and click on IPO/e-IPO option;
3] Fill the form and complete registration; Choose LIC IPO, enter number of lot(s) and the bid price;
4] Click on 'Submit' or 'Apply' option to place your LIC IPO application.
These steps may vary from banks to bank but more or less it is expected to provide same path for LIC IPO apply. But, one must note that after submission of the form, one's bid amount will get blocks and won't reflect in the applicant's bank balance. It would get deducted if the share get allotted to the allottees.
How to apply for LIC IPO through demat account
1] Login to your demat account using ID, password or other credentials;
2] Click on IPO section on the main menu;
3] Select LIC IPO, choose policyholders in category section, fill other information sought, place your application by pressing at the 'submit' button;
4] Accept mandate from the participating bank of your UPI ID, whichever you are using;
5] After accepting the mandate, click on 'Apply' option and your LIC IPO application will get submitted successfully.
The government of India has fixed LIC IPO price band at ₹902 to ₹949 per equity share announcing discount of ₹60 per share for policyholders and ₹45 per share for employees and retail investors. Tentative LIC IPO allotment date is 12th May 2022 and likely LIC IPO listing date is 17th may 2022.
According to market observers, LIC IPO GMP today is ₹60, which is ₹5 lower from its yesterday evening grey market premium.
