If you want to invest in LIC IPO, then link the policy with PAN by tomorrow, otherwise you will not be entitled to exemption
A part of the LIC IPO will be reserved for the policyholders. Under this, policyholders applying for IPO will get a discount.
LIC’s IPO may come in the next few days.
IPO (IPO) The central government is preparing to bring Life Insurance Corporation of India ,LICForeign Direct Investment (FDI) is allowed up to 20 percent under the automatic route. This move of the government will ease the disinvestment of the country’s largest insurance company. LIC’s IPO may come in the next few days. Some part of this IPO will be reserved for the policyholders. Under this, policyholders applying for IPO will get a discount. This exemption will be available to those policyholders whose policy is based on their PAN (PAN) will be linked to. The insurance company has asked to link the policy with PAN by February 28.
The insurance company said, if a policyholder fails to do so, his/her application will be rejected, if they apply under the category reserved for policyholders. The IPO is expected to hit the capital markets in March. Through this IPO, the government is offering 5 percent stake in LIC. The government will offer 31.6 crore shares under this.
10% reserve for policyholders
According to the DRHP, 35 per cent of the public offering will be reserved for retail investors, 5 per cent will be reserved for LIC employees while 10 per cent of the public offering will be reserved for policyholders. An LIC policyholder will be able to apply in both retail as well as policyholder categories.
Those whose policy is registered in the records of LIC will be able to take IPO. If there is a policy in the joint then the primary policyholder will get a stake in the IPO. Only the one in whose name the demat account is there will be able to buy the shares. Only people with ‘Eligible Policy’ of LIC will be able to invest in IPO. Similarly, the annuity and the policyholder’s nominee will not be able to participate in the IPO. If a policy has been taken before the IPO draft is submitted to SEBI, but the bond is received later, then the IPO can be taken.
How much can policyholders invest
A policyholder cannot invest more than Rs 2 lakh in a lot. How much share will be received per subscriber will depend on the issue price of the share.
Pan link like this
>> To link PAN in LIC’s policy, visit LIC’s website www.licindia.in or https://licindia.in/Home/Online-PAN-Registration.
>> Enter your policy number, PAN, date of birth and e-mail ID while updating PAN.
How to check PAN-LIC status
Whether your PAN is linked or not, also check its status. You can easily check it.
>> First of all go to https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus.
>> A window will open in LIC’s portal in which you have to fill policy number, date of birth and PAN details.
>> After filling the captcha click on submit button.
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