How to apply for LIC IPO online?

The Life Insurance Corporation of India (LIC) is expected to launch its much-awaited Initial Public Offering (IPO) in the second week of March 2022. In the Indian insurance sector, LIC is a household name with a strong market share (over 60% in terms of premium). A significant percentage of a family's savings is invested in LIC's various insurance policies.

LIC's assets under management currently reach around US$ 463 billion, which is three times the size of commercial life insurers and more than the whole Indian mutual fund industry.

LIC is owned entirely by the Indian government. The government intends to sell 5% of its shareholding in the company, which consists of 316 million shares, through an Offer for Sale as part of its strategic disinvestment.

Apply LIC IPO Online

You can now invest in LIC IPO by opening a demat account with Indira Securities. Here’s a step by step guide for the same.

• Open an account with us through Indira Mobile Trading application or visit www.indiratrade.com
• Click on to the LIC IPO pop-up button on the right
• Enter your name and mobile number and click on to "Apply now"
• You’re all set to invest in Latest IPO’s.
• You’ll get all the latest IPO’s where you can apply for it.
• Fill in the number of lots and the price you'd like to apply for.
• Check the details and confirm your payment
• You can also check your application status on www.indiratrade.com

About LIC

In 1956, LIC was formed by the merger of 245 private insurers and private fund societies. In the insurance sector, FDI was allowed at a rate of 26 percent in 2000, but this has now been boosted to 74 percent. Until the 1990s, the company had a monopoly in the insurance industry, after which many private players emerged. LIC still has a market share of over 74.58 percent as of March 31, 2021, despite the fact that there are 23 private insurers in the market.

According to their most recent report, LIC has 2,048 branches across India, with 8 zonal offices in Delhi, Chennai, Mumbai, Kolkata, Kanpur, Patna, Bhopal, and Hyderabad. In addition, there are 113 Divisional offices, 1,178 Mini offices, and 1,526 Satellite offices.

The promoter, who owns a 100% stake in the insurance behemoth, is offering to sell (OFS) 31,62,49,885 equity shares in the initial public offering. The promoter is the President of India, acting through the Ministry of Finance of the Government of India. The retail portion of the offer has been set at 35 percent. The policyholder reservation part will be limited to 10% of the total size and may be reduced. Here's how a LIC policyholder can change their or her PAN.

How do I update My PAN in My LIC policy?

To invest in the IPO, the applicant's PAN number must be updated in the LIC policy. To participate in the LIC IPO, subscribers must link their life insurance policies to their PAN cards, according to the Life Insurance Corporation of India.

How do I change My PAN details on the LIC website?

Step 1: Go to https://licindia.in/ or go directly to https://linkpan.licindia.in/UIDSeedingWebApp/ on the official LIC website.

Step 2: Visit the home page and click on to 'Online PAN Registration.'

Step 3: Tap on the 'Proceed' button on Online PAN Registration page.

Step 4: Make a note that your email address, PAN, phone number, and LIC policy number are right.

Step 5: In the box, type the Captcha code correctly.

Step 6: Select 'Get OTP' option

Step 7: Once you've received the OTP, enter the digits into the portal's appropriate field and submit it.

How to check PAN-LIC status

Step 1: Go to https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus to verify your PAN-LIC status.

Step 2: Along with the captcha, enter your policy number, date of birth, and PAN. After that, click the Submit button.

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