What’s the process to apply for LIC IPO?

One must compulsorily have two things to apply for the LIC IPO – a Demat account and a PAN card. A demat account is needed to credit the shares if you receive an allotment. A PAN card is essential for all IPOs so that the Income Tax Department can track the inflow and outflow of money for individuals.

What are ways to apply for IPO?

Eligible employees, policyholders and retail investors bidding in their respective portions can bid through the ASBA (applications supported by blocked amount) or the UPI mechanism.

Can you use the third-party account for placing bids?

Retail investors bidding in the net offer, eligible employees bidding in the employee reservation portion and eligible policyholders bidding in the policyholder reservation portion will ensure they use only their own ASBA account or only their own bank account linked UPI ID to make an application in the offer and not ASBA account or bank account linked UPI ID of any third party.

What to do if a beneficiary account is jointly held?

Ensure the names given in the bid-cum-application form are exactly the same as the names in which the beneficiary account is held with the depository participant. In the case of joint bids, the bid-cum-application form should contain the name of only the first bidder whose name should also appear as the first holder of the beneficiary account held in joint names.

Any lock-in period for retail investors?

There is no lock-in period and retail individual investors can sell the equity shares immediately on the listing of the equity shares if they choose to do so.

At what price should you bid?

Retail investors can bid at the cut-off price. However, in such a case, it is necessary to keep the bid amount blocked for investment at the cap price since it may turn out to be the offer price.

LIC IPO Day 1

LIC IPO: Retail investors get extra day to bid for India's biggest issue