The government-owned Life Insurance Corporation of India (LIC) is the country’s largest life insurance company, and it is planning an initial public offering (IPO) in which it will sell a portion of its stock to the general public.
The Insurance Regulatory and Development Authority of India (IRDAI) has authorised LIC India’s request to conduct an initial public offering (IPO) of shares, according to media sources. The Life Insurance Corporation of India’s board of directors will meet today to finalise the IPO’s details and file papers with the market regulator, the Securities and Exchange Board of India (SEBI).
LIC, which has assets worth Rs 44 lakh crore in FY21, is owned entirely by the government. The IPO will be worth between Rs 70,000 crore and Rs 1 lakh crore, according to Angel One, a brokerage business. LIC will have a market valuation of Rs 13-15 lakh billion after the IPO.
LIC policyholders may be offered a reduction on the price of shares offered in the IPO, according to media reports. The government is expected to sell 5-10% of its investment in LIC, depending on its worth. As a result, many policyholders may be interested in applying for an IPO allotment.
As a result, policyholders must have two items in order to apply for the LIC’s IPO:
On the LIC portal, the policyholder’s PAN should be updated.
A demat account should be held by the policyholder.
How do I change my PAN on the LIC website?
1st step: https://licindia.in/ is the official LIC website.
Alternatively, go to https://linkpan.licindia.in/UIDSeedingWebApp/.
Step 2: Go to the home page and click on ‘Online PAN Registration.’
Step 3: Tap the ‘Proceed’ button on the Online PAN Registration page.
Step 4: Make sure your email address, PAN, phone number, and LIC policy number are right.
Step 5: In the box, type the Captcha code.
Step 6: Select ‘Get OTP’ from the drop-down menu.
Step 7: Once you’ve got the OTP, enter the digits into the portal’s appropriate field and submit.
Step 1: Go to https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus to verify your PAN-LIC status.
Step two: Along with the captcha, enter your policy number, date of birth, and PAN. After that, click the Submit button.
Demat account
A demat account is one of the most important requirements for applying for share allotment in an IPO or for buying and selling equities on stock exchanges. NSDL and CDSL are the two main depositories in India. Many financial institutions, including multiple banks, participate in these depositories and are hence referred to as “Depository Participants” or “DPs.”
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