LIC IPO Policy Holders: Insurance company LIC is bringing the country’s largest IPO till now. For this, the insurance company has applied to the market regulator SEBI. It is clear in the DRHP submitted to SEBI that separate shares have been kept in the IPO for policyholders and employees. Policyholders and employees of LIC will get a discount on buying shares under this IPO. At present, how much this discount will be, it will be clarified along with giving information about the issue price. But this benefit will be available to those whose PAN card will be updated from the policy by February 28.
10% share to policy buyers
According to the documents submitted with SEBI, a maximum of 10 percent of this issue will be reserved for policyholders. It cannot exceed 10 per cent in any condition. If your LIC policy has lapsed, then you can bid against the reserve quota for retail investors. 35% of the issue size is reserved for retail investors. At the same time, 5 percent share has been kept in reserve for the employees of LIC. Shares will be given at a discount to policyholders and employees. The issue of LIC will be purely offer for sale. In this, the government will reduce its 5 percent stake, which is equal to 316 million shares.
How to update PAN
For this you have to go to the official website of LIC https://licindia.in/ . After that go to the option of Online PAN Registration there. After which tap on the Proceed button on the same page. Enter your email address, PAN, mobile number and LIC policy number. Enter the Captcha code in the box. Request for OTP from your registered mobile number. Enter OTP details and submit. You will get a message after the registration request is successful.
Enter the policy number, date of birth and PAN details by visiting https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus . After that enter the captcha. Then submit. This will let you know when the PAN has been updated.