LIC IPO FAQs Answered

Life Insurance Corporation (LIC) IPO FAQs answered

Introduction

So, the big day arrives. The Life Insurance Corporation (LIC) is arriving at the bourses, and the LIC IPO opens today.

So here’s everything you need to know about the Initial Public Offering (IPO) of the Life Insurance Corporation (LIC).

FAQs of LIC IPO answered

When can you apply for the LIC IPO?

You can apply for the IPO of Life Insurance Corporation from Wednesday, 05th May 2022, until Monday, 09th May 2022 (both dates inclusive). However, we suggest that in case you wish to apply for the IPO, you apply before noon on 09th May 2022, even though the cut-off timings on the last day is around 3:30pm. However, we do note that the brokers do face glitches, issues after 2pm. So, place in your IPO applications in time before the cut-off timings on the last day.

When is the allotment of LIC finalised, and when can I check my allotment status?

The finalisation will be done by Thursday, 12th May 2022, and the allotment status can be checked on kfintech’s portal starting 12th May 2022

What is the price band for the IPO?

The price band for Qualified Institutional Buyers (QIB), and Non-Institutional Investors(NII) is ₹ 902/- to ₹ 949/- per share.

What is the price band for retail investors when applying for LIC IPO?

The retail investors get a discount of ₹ 45/- per share. So, the effective price band for Retail Individual Investors(RII) is ₹ 857/- to ₹ 904/- per share.

What is the price band for employees of Life Insurance Corporation?

Like the retail investors, the employees of Life Insurance Corporation also get a discount of ₹ 45/- per share. So, the effective price band in the Employee quota is ₹ 857/- to ₹ 904/- per share

What is the price band for policy holders of Life Insurance Corporation?

The discount for the policy holder quota, while applying for the LIC IPO is ₹ 60/- per share. So the effective price band for the Policy Holder quota is ₹ 842/- to ₹ 889/- per share.
Please note that ONLY the existing policy holders of Life Insurance Corporation, who have linked their LIC policy to their PAN card on or before February 28, 2022 are eligible to apply for the IPO through the policy holder’s quota.

When will the shares of LIC be credited to my demat account?

The shares of LIC (if you receive the IPO allotment) will be credited to your linked demat account around Monday, 16th May 2022. However, there are instances where the allotment is delayed, and the shares are credited only in the morning the next day. So, be guided accordingly.

When is the LIC listing date?

The shares of the Life Insurance Corporation (LIC) will start trading on Tuesday, 17th May 2022. You can start buying and selling LIC shares starting this date.

Can an eligible LIC policy holder apply through the policy holder quota, as well as the retail quota?

YES. Eligible LIC policy holders can apply for the IPO, through both the quotas, viz. the policy holder quota, as well as the retail quota, as per the respective limits.

Can an eligible LIC policy holder apply through the policy holder quota, as well as the NII quota?

YES. Eligible LIC policy holders can apply for the IPO, through both the quotas, viz. the policy holder quota, as well as the NII quota.

Can an eligible LIC policy holder-cum-employees apply through the employee quota, policy holder quota, as well as the retail quota?

YES. LIC employees, who are also eligible LIC policy holders can apply for the IPO, through all three quotas, viz. the employee quota, policy holder quota, as well as the NII/Retail quota, as per the respective quota limits.

Conclusion

Hopefully, this article has answered the majority of the questions you may have had about the Frequently Asked Questions (FAQs) about the Life Insurance Corporation IPO. We will continue to update the article, as and when new updates come through. All the best in your investing journey.

[Step-by-Step Guide]: How to link your LIC Policy with PAN Card online

Introduction

Welcome to the article on linking the LIC Policy to your PAN Card. This article lists all the process steps to successfully link your PAN card details to your LIC policy.

The answer is YES. You can link your LIC Policy to your PAN Card through the easy online process stated below. The process would take about 15 minutes of your time.

What is the headline for linking PAN Card to LIC Policy?

There is an ongoing drive for the policyholders to link their PAN card details to their existing LIC policies. This is for the policyholders to be eligible to apply for the upcoming LIC IPO/Listing on the Indian Equity markets. For being eligible under the proposed “Policyholder Quota” for IPO application, the last date for linking the PAN card to the LIC policy is Monday, the 28th of February 2022.

Pre-requisites before we start

Before you start, please have the below details ready:

  • List of LIC policy/policies details i.e. the policy number(s),
  • Your PAN Number details,
  • Personal details viz. Date of Birth, Gender, Email Address, Mobile Number

Step-by-step Guide on linking PAN Card with your LIC Policy

Time needed: 15 minutes.

  1. Go to the official LIC Policy- PAN Card Linking Portal

    – Visit the official LIC portal for the linking of the PAN Card details to your LIC Policy https://licindia.in/Home/Online-PAN-Registration.

  2. Next, fill in all the required details viz. Date of Birth, Gender, Email Address, PAN Card Details, Full Name (as per PAN), Mobile Number, along with the Policy details.

    https://linkpan.licindia.in/UIDSeedingWebApp/ .
    – Date of Birth: Fill in the details in the (dd/mm/yyyy) format
    – Gender: Select one of the following options: Male, Female, OR Other.
    – Email Address: Enter your email address
    – PAN: Enter your 10 digit alphanumeric PAN Card details.
    – Mobile Number: Enter your 10 digit mobile number
    – Policy Number: One OR multiple policies can be added at the same time. Click “Add Policy” after entering one policy details to update the view, and then update the next policy number, and so on.

  3. Accept the undertaking, enter the Captcha, and click “Get OTP”

    – Accept the undertaking by clicking the checkbox to the following message
    I hereby submit my PAN as issued by Income Tax Department, Government of India and voluntarily give my consent to link my PAN to all my LIC Policies mentioned above. I also give consent for verification of my PAN with Income Tax Department through DigiLocker. LIC of India has informed me that my PAN details would only be used for validation, e-KYC purpose and for all service aspects related to LIC of India. I will not hold LIC of India or any of its officials responsible in case of any incorrect information provided by me.
    I also authorize LIC to use my mobile number and email id as mentioned above for sending communications.

    – Next enter the visible captcha in the text box.
    – Click “Get OTP”

  4. Enter the OTP (received as an SMS text message on mobile)

    – You will receive a text message that says “OTP for linking your PAN with LIC policies is xxxxxx.”
    – Enter the OTP in the next message window, and click “Submit”.

  5. Registration acknowledgement received, followed by the auto confirmation later on.

    – The next screen will indicate the following message “Request for PAN registration received. Your PAN received for linking to your following LIC policies. – [xxxxxxxx, xxxxxxxx].
    – Later on, you will receive a final confirmation that the LIC Policy- PAN linking has been completed

  6. Done!

    That is it. The linking process of the LIC policy with the PAN details is now complete.

Conclusion

So, hopefully, the detailed process listed above helped you to successfully link your LIC policy with the PAN Card details.

Best wishes on your investing journey!