LIC IPO Latest news: The much-awaited initial public offering (IPO) of the Life Insurance Corporation of India is likely to open on May 4. The government, which wholly owns the insurance behemoth, has trimmed its IPO size to 3.5 per cent instead of the initial 5 per cent – fetching it about ₹21,000 crore. The IPO is expected to be open till May 9.
READ MORE: 8 things you should know about the LIC IPO
Here are some of the important details for those interested in applying for LIC IPO:
For LIC policyholders- There will be a portion of the equity shares offered in the IPO available for bidding for LIC policyholders. “Policyholders having one or more LIC policies as on the date of the DRHP and Bid / Offer, Opening Date and are residents of India would be eligible to apply in this offer under the Policyholder Reservation Portion,” LIC mentioned in its draft filing.
For LIC employees- Eligible LIC employees can apply for the “Employee Reservation Portion” to avail the discounted price. The maximum bidding amount under this scheme cannot exceed ₹2 lakh or 5 per cent of the total offer.
For normal investors- Normal investors can apply in the Qualified Institutional Buyers (QIB) segment and the retail portion. The portion of the Net Offer (including the Anchor Investor Portion) should not exceed 50 per cent of the Net Offer. Portion of the Net Offer can not be below 35 per cent of the Net Offer.
How to apply for LIC IPO: Step-by-step guide
Step 1: Log in to your online net-banking account. You will be directed to their home page subsequently.
Step 2: Go to the investment section > click on the IPO/e-IPO option.
Step 3: Fill in depository details and bank account details. Once you do that, the verification process will be completed.
Step 4: Click on the ‘Invest in IPO’ option after verification is completed.
Step 5: Click on LIC IPO > add the number of shares and the ‘bid price’.
Step 6: Once you have read the terms and conditions of the bidding, click on ‘Apply Now’
Step 7: At the bank, the application money will remain blocked up to the finalisation on the basis of allotment. The account will be debited post the allotment of the shares.
How to check share allotment: Step-by-step guide
To check whether you have been allotted shares or not, you will have to follow the below mentioned steps-
Step 1: Go to https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select the issue type
Step 3: Enter issue name, application number, PAN details
Step 4: Click on search