The uber starting offer of the Life Insurance Corporation of India, or LIC, is at last set to open one week from now, on May 4 and close on May 9. The bid for anchor financial backers is set to open on May 2, as the public authority hopes to raise about Rs 21,000 crore through the LIC IPO.
The cost band is set at Rs 902-Rs 949 for every value share, LIC has said in its distraction plan. Be that as it may, these rates are for general financial backers, as policyholders, retail financial backers and workers can get a markdown of up to Rs 60, according to the organization’s papers documented with the SEBI. The LIC IPO is set to be recorded on May 17, DIPAM secretary Tuhin Kanta Pandey was cited as saying on Friday.
LIC IPO: Discount for Policyholders
Right now, what the vast majority across India might find alluring is the rebate LIC policyholders get while purchasing portions of the LIC IPO. LIC policyholders will get a markdown of Rs 60 while putting resources into the IPO. A critical part of the forthcoming LIC IPO, up to 22,137,492 value offers or 10% of the issue, has been saved for the LIC policyholders, as indicated by the Red Herring Prospectus (RHP).
LIC IPO for Policyholders: Key Things to Note
LIC policyholders whose PAN is connected to the insurance contract as of February 28, 2022, will be qualified to apply for the LIC IPO, the safety net provider has clarified in its Red Herring Prospectus. LIC policyholders can put the greatest bid of Rs 2 lakh for the issue, net of rebate to policyholders under the policyholder’s reservation amount. Qualified policyholders will want to apply at the limited rate under the “Policyholder Reservation Portion”, which is the first of its sort.
The second thing policyholders need to guarantee to offer for the LIC IPO is that they have a Demat account, that coordinates with the PAN connected to the LIC strategy. You can open a Demat account by enlisting with a safe member (DP), a rundown of which you can find on NSDL and CDSL sites. You will require a location verification, PAN, dropped check, photo and pertinent charges to open a Demat record to put resources into LIC IPO.
How to Buy LIC IPO for Policyholders?
-After opening the Demat account, visit your profile on the DP’s foundation. While the route cycle might fluctuate from one organization to another, you would need to take a gander at the IPO segment on the stage you are exploring through
-Click on the choice and select the LIC IPO tab, after which you would need to search for the policyholder classification. Enter your subtleties, put a bid and snap on the submit choice
-After this, you will get an order from the partaking bank. Your application interaction will be done once you acknowledge this order
-Once done, click on the ‘apply now button. Then, at that point, complete the instalment choice by utilizing UPI or some other internet-based installment choice to purchase LIC IPO shares at limited rates.