LIC IPO: If you’re an LIC policyholder, then right here’s how one can take part within the upcoming IPO

LIC IPO: The authorities is predicted to launch the preliminary public providing (IPO) of the nation’s largest insurer Life Insurance Corporation (LIC) within the fourth quarter (This fall) of the continuing monetary yr (FY22).
The itemizing of LIC can be essential for the federal government to fulfill its disinvestment goal. The authorities goals to mop up Rs 1.75 lakh crore within the present fiscal from minority stake sale and privatisation.
Of the Rs 1.75 lakh crore, Rs 1 lakh crore is to return from promoting the federal government’s stakes in public sector banks and monetary establishments. The remaining Rs 75,000 crore would come as CPSE disinvestment receipts.
The Cabinet had earlier this yr in July cleared the disinvestment of LIC and a panel headed by the finance minister has been authorised to resolve on the quantum of stake dilution. The authorities has already introduced in required legislative amendments within the LIC Act for the proposed IPO by the Finance Act 2022.

In her Budget speech in February this yr, Finance Minister Nirmala Sitharaman mentioned the IPO of LIC can be floated in 2021-22.
Now, as per the proposed plan by the federal government, as much as 10 per cent of the LIC IPO situation measurement can be reserved for its policyholders. Last week, the life insurer requested its policyholders to replace their PAN, in order that they’ll take part within the proposed public provide.
“In order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the Corporation’s records. Further subscribing to any public offering in India is only possible if you have a valid DEMAT account,” LIC had mentioned in a public discover.
So, if you’re an present LIC policyholder and also you need to put money into the upcoming LIC IPO, then you definately’ll want a Demat account and moreover, you will need to replace your PAN particulars in your coverage data.
Here’s how one can verify and replace your PAN together with your LIC coverage:
After this, you will notice the standing of your LIC coverage and PAN hyperlink. If your PAN isn’t linked, then comply with these steps:
Either go to LIC’s official web site https://licindia.in/ or go to the direct web page https://linkpan.licindia.in/UIDSeedingWebApp/
If you go to the web site, on the house web page itself choose the ‘Online PAN Registration’ tab
In the Online PAN Registration web page, faucet the ‘Proceed’ button on the backside.
Thereafter, on the brand new web page, enter date of start, gender, electronic mail id, PAN, full title as per PAN, cellular quantity, and LIC coverage quantity.
Click the declaration checkbox.
Enter the captcha into the field.
From your registered cellular quantity, request an OTP.
On receiving the OTP, key within the digits into the portal and submit.