Life Insurance Corporation of India (LIC) had asked its customers to update their PAN details with LIC policy to participate in the upcoming LIC initial public offer (IPO). The last date to update PAN is February 28, 2022.
To participate and avail a 10 per cent quota, LIC policyholders need a Demat account, and their insurance policies should be linked with the PAN card.
LIC policyholders won't be able to subscribe to the LIC IPO if their PAN cards are not linked.
Here is how LIC policyholders can link PAN with their policy number
1) Login to 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 and click on 'Proceed.'
4) Enter 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.
LIC has reserved 10 per cent of the total shares on offer for the policyholders and 5 per cent for the employees. LIC has also reserved 35 per cent of shares for retail investors.
The maximum bid amount under the Policyholder Reservation Portion by an eligible policyholder would not exceed Rs 2 lakh. Policyholders having one or more policies of LIC as on the date of DRHP and bid/offer opening date and who are residents of India would be eligible to apply in this offer.