How To Apply For LIC IPO Digitally: Policyholders And 'All Investors'

The government of India is going to offer the LIC IPO in the price band of Rs. 902-949 each share, from May 4 according to reports. The public insurer will sell 221.4 million shares in this phase. The LIC IPO is set to be the biggest IPO offering, despite a reduction in offer size. LIC has segregated IPO investment into two categories, for the LIC policyholders and 'all investors'. Here, the procedure of the LIC IPO application has been discussed thoroughly.

Application by the LIC Policyholders

Having a Demat account is mandatory for IPO investment. Via online investment portals like Upstox or Zerodha etc., you can apply for the IPO. After logging into the account, search for LIC IPO, and click on the 'LIC - Policyholder' tab. Enter your personal information and the preferred bid price. After that click on the apply button. For the payment, you can select the UPI payment option and accept the payment request on the UPI app.

Application by the 'all investors'

Demat account will be mandatory for LIC IPO investment by all investors. After logging into the online investment platform account, check for LIC IPO and then go to the 'LIC - All Investors' tab, and click on it. Fill up the personal information and the rest of the steps are the same. Select the bid price, and click on apply button. Similarly, accept the UPI payment request to fulfill your payment online.

LIC is offering a discount of Rs. 60 to the policyholders, and a discount of Rs. 45 to the retail individual investors. Significantly, linking the pan card with LIC is an important step for the investment. LIC has recently stated, "A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before the expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28, 2022) shall not be considered an Eligible Policyholder."

Additionally, you can also pre-apply for the said IPO exclusively on some of the online investment platforms.

(Also read: How To Check LIC IPO Allotment Status)