Apply Upcoming LIC IPO at Findoc: Check Issue Date, Price, Lot Size & Details

Life Insurance Corporation of India (LIC) is the largest player in the life insurance segment in India. Its size is so significant that every 3 out of 4 life insurance policies sold are from LIC. The insurance giant has been around since 1956 and currently serves over 250 million people - more than a sixth of India’s population. LIC is a state-owned company and is 100% owned by the Ministry of Finance.

LIC IPO

The Government of India is planning to divest up to a 10% stake in LIC through the issue of fresh shares following its plan to systematically divest state-run corporations. The issue is expected to be for INR 90,000 - 100,000 crore (or $13.5 billion) which would make it the biggest IPO listing in India. Some experts have labeled this to be “Saudi Aramco of India”. While the date of the issue is still unknown, we can expect it to go live by March 2022.

LIC IPO - Key Facts

• In the 2020 fiscal year alone, LIC collected Rs. 1.78 trillion in the first-year premium, 25.17 percent higher than the previous year.
• LIC reported a 17.5 percent growth in the value of the new business. Some private insurers in India like HDFC Life, SBI Life, and ICICI Pru Life are growing faster than LIC due to their small size but they do not have the competitive edge that LIC has.
• LIC has a network of over 1 million active agents spread across the country which is significantly larger than any other life insurer in the country. It is because of these agents and over 3000 offices in the country that LIC is able to cater to its large customer base.

Why Invest in LIC IPO?

• These are among the primary reasons why investors should consider investing in this IPO –The Life Insurance Corporation of India is the biggest player in the insurance sector in India and has the backing of the government, making it a stable business when compared with other insurance aggregators.
• Investing in LIC would favor investors significantly. The company recorded stock market profits of more than Rs. 10,000 crores in this June quarter. Investors can expect healthy dividends from the stock.
• LIC will adopt a corporate structure with independent directors. This should increase the performance of the company, thus increasing its value and consolidating its position in the market.

What is the LIC policyholders category? Is there any benefit if I apply?

The policyholder's category is a new section in the LIC policy, which will benefit customers who hold policies from this company. To be eligible for making an application under the Policyholders'category:

• Your PAN has to match with that registered on the Findoc account too.
• Before applying here you must make sure your PANs are updated using the same number as earlier entered while signing up with Findoc.

Can I check if my PAN is linked with my LIC Policy?

To check whether your PAN number is already linked with the policy:

• Visit this page and enter all required information.
• You will be redirected to a web page to provide some basic details like date of birth, PAN, policy number, and captcha.
• You then have to press ok or submit a button to view your PAN link status.

What if my LIC policy is still not linked to my PAN, then what should I do?

• Visit this Link your PAN to LIC policies page
• Update your PAN with the list of LIC policies you hold, click proceed, and move to the next step.
• You must enter your valid date of birth (the one mentioned on the PAN), gender, email, mobile number, full name, and policy number on the next page. Make sure all the details match your PAN details.
• If you have several policies, don't forget to click on add policy and proceed further with another policy number.
• Now, click on declaration and enter the captcha shown to you.
• Locate the OTP option and receive the OTP details on the registered mobile number - click submit.

Why Invest in LIC IPO?

These are among the primary reasons why investors should consider investing in this IPO –

• The Life Insurance Corporation of India is the most significant player in the insurance sector in India.
• It has the government's backing, making it a stable business compared with other insurance aggregators.
• Investing in LIC would favor investors significantly. The company recorded stock market profits of more than Rs. 10,000 crores in this June quarter. Investors can expect healthy dividends from the stock.
• LIC will adopt a corporate structure with independent directors.
• This should increase the company's performance, thus increasing its value and consolidating its position in the market.

Qualifying for the LIC IPO is simple! All you need to do is:

• Open a Demat account online
• Sign up with your UPI app of choice
• Accept the UPI mandate

Once you have accepted the mandate, you will be able to hold or block the bid amount in your account.

How to apply for LIC’s IPO?

You can apply for an IPO if you have a trading/Demat account. This can be done through both online and offline processes. In the online mode, you have to log in to your trading account and enter the number of shares along with the cut-off - the price you want to bid. If you don’t have a trading account you may get in touch with the Findoc Financial Services team and we’ll help you at every stage of the process.

Through offline mode, you can submit the ASBA application to the banking branch designated as Self Certified Syndicate Bank.