LIC policyholder alert: Last day to link policies with PAN for IPO ends tomorrow

There is plenty of interest and buzz on the market for initial public offering (IPO) Indian life insurance company (LIC). Setting the stage for the largest IPO in the country, life insurance company on February 13 submitted a draft paper with the capital market regulator for 5 percent selling shares by the government for an estimated ₹ 63,000 crore.

Initial Public Offering (IPO) of more than 31.6 crore shares or 9 percent of government shares tend to reach D-Street in March. Employees and insurance giant policy holders will get discounts on the price of the floor.

LIC policy holders, who want to bid with the quota ordered, have been asked to connect their policies with PAN numbers. LIC has announced February 28 as the last cut-off date to connect the policy with a pan. Policy holders will be considered not eligible to apply with the quota ordered if they fail to obey the timeline.

Here is how LIC policyholders can link PAN with their policy number

1) Go to the official LIC website – https://licindia.in/.

2) Select the Online PAN Registration option from the home page and then select ‘Click Here’.

3) On the next window, read the instructions regarding the documents you need. Then, click on ‘Proceed’

4) Now, provide your details, including PAN, LIC policy number, mobile number, and email address. Fill in Captcha in the designated box.

5) Request an OTP from your registered mobile number.

6) Enter the OTP into the portal and then submit it.

The Union Cabinet on Saturday allowed up to 20 percent of direct foreign investment (FDI) under the automatic route in the IPO bonded. The decision in this case was taken by the cabinet, chaired by Prime Minister Narendra Modi.