Last Date to Link Policies with PAN: The Life Insurance Corporation (LIC) of India Life Insurance Corporation (LIC) is all set to kick off its big-ticket initial public offering (IPO), which is pegged to be the largest ever IPO in the history of Indian markets. It has started seeing a jump in policyholders linking their permanent account numbers (PANs) to LIC policies, signalling a big response among them to participate in the insurer’s initial public offering (IPO).
LIC policyholders, who want to bid under the reserved quota, have been asked to link their policy with PAN number. LIC has announced February 28 as the last cut-off date for the linking of the policy with the PAN. Policyholders would be deemed ineligible to apply under the reserved quota if they fail to abide by the timeline.
LIC IPO: How can Policyholders Participate
LIC had previously pointed out that policyholders are required to link their PAN cards to become eligible for subscribing to LIC IPO. Besides, policyholders are also required to have a demat account for the same.
LIC IPO: Shares at Discount for Policyholders and Employees
LIC policyholders and employees would also be given a discount on the floor price. The quantum of the discount would be communicated at least two days before the bid opens.
PAN link Policy Number: Here’s How to go About it
- Go to the official LIC website – https://licindia.in/
- Select the Online PAN Registration option from the home page and then select ‘Click Here’
- On the next window, read the instructions regarding the documents you need. Then, click on ‘Proceed’
- Now, provide your details, including PAN, LIC policy number, mobile number, and email address. Fill in captcha in the designated box
- Request an OTP from your registered mobile number
- Enter the OTP into the portal and then submit it
LIC IPO: Here’s How to Check PAN – LIC Policy Status
- Open the link provided: https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
- Submit the details required to be filled in, such as the policy number, date of birth, and PAN card details
- Next enter the Captcha
- Click on Submit option. You will get to know the status
LIC IPO: Ask your Agent
Also, policyholders who are not well-versed with the technology can ask their agents to do it for them.
LIC has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) last week. The DRHP is filed ahead of the IPO and it outlines the company’s details and growth expectations. The state-owned insurer is planning to sell a five per cent equity stake owned by the Indian government with the upcoming IPO, according to the DRHP document.
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