LIC IPO is expected in March 2022. The LIC has already filed DRHP. The SEBI is likely to accord approval for the same very soon. There is a super frenzy atmosphere around this popular LIC IPO. The IPO is likely to see huge subscription numbers. In such a scenario, how practical is it to get an allotment? If you are a LIC policyholder, fret not! You are almost a privileged citizen! But, why? You will get a 10% reservation under the LIC policyholder category in the LIC IPO. But you need to follow a few steps to make sure you are eligible to claim the LIC Policyholder status in the upcoming LIC IPO. Remember to complete these steps before February 28, 2022. Read on!
Pre-requisites:
Before we continue, make sure you have a valid PAN card. If you don’t have a PAN already, follow this link to obtain a new PAN. Also, make sure you have linked your Aadhaar number to your PAN. You must have a Demat account to buy and hold shares or to participate in an IPO. If you don’t one, do apply and obtain a Demat account from any of your favorite discount brokers/full-service brokers.
PAN Linking Steps:
- The first step an LIC policyholder should do is to register in LIC e-Services portal with his policy details. These include your LIC policy number, instalment premium, date of birth, email address, Passport number (optional), PAN card number etc. Once you register for the LIC e-Services portal, you can login to check the full details of your policy etc,.
- In the second step, you need to link your PAN number to your LIC policy. The Life Corporation of India(LIC) has notified that linking the PAN number of the policyholder to the policy is mandatory to participate in the IPO. To do this, you need to go to this link: https://linkpan.licindia.in/ and enter the details like date of birth, email ID, PAN number, your name as per PAN card, your mobile number etc,. Enter OTP you received and complete the step.
- If you are already linked your PAN card to your LIC policy, you can check the status of your PAN linking by clicking on this link: https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
You need to scrupulously follow the above steps in order to claim the LIC policyholder reservation for the LIC IPO. Should you face any trouble in completing the above steps, contact your LIC agent. He/she will assist you in the PAN card linking process.
Bottom line:
You should follow all the above steps in order to participate in the LIC IPO as a policyholder. A 10% reservation in what is possibly the country’s biggest IPO is not a trivial thing. For this reason, I said you are a privileged citizen/customer. This gives you a clear edge over other retail investors who are trying for allotment in the LIC IPO.