LIC recently posted an ad asking policyholders to update PAN details if they are interested in subscribing to the company’s initial public offering. Here is everything you need to know.
On Wednesday, LIC published an ad in major newspapers asking policyholders to update PAN details. (Photo: Reuters)
Life Insurance Corporation of India (LIC) has informed policyholders that they should update their Permanent Account Number (PAN) information if they want to invest in the state insurer’s proposed IPO.
On Wednesday, LIC published an ad in major newspapers asking policyholders to update PAN details and open demat accounts in order to participate in the mega-public offering.
In the ad, LIC stated, “In order to participate in such a public offering, policyholders must ensure that their PAN details are updated on the company’s records. In addition, it is possible to subscribe to any public offering in India if you have a valid Demat account. Accordingly, policyholders must ensure that they have a valid Demat account. “
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The ad asked policyholders to update PAN details in case they are interested in subscribing to the company’s proposed IPO. “If you have not yet made this information available to the company, please do so at the earliest. This is very important both from a KYC point of view and for your ability to participate in LIC’s planned public offering if it takes place. “
LIC stated that these steps will help policyholders participate in the public offering.
If a policyholder is interested in subscribing to the LIC IPO, the individual must visit the LIC’s official website.
On the home page, the person must select the ‘Online PAN Registration’ option. The next step is to provide your email address, PAN, cell phone number and LIC policy number. Enter the CAPTCHA code and request an OTP from your registered mobile number. Enter the OTP and then click Submit in the portal. Individuals can also update PAN details offline by contacting a LIC agent.
The date for the LIC’s IPO has not yet been set, but preparations for the launch of the public offering are in full swing. Although the IPO has been slow to get started, it is expected to reach Rs 1 lakh crore on India’s largest public offering.
It’s worth noting that under the proposed plan, at least 10 percent of the IPO is reserved for policyholders.
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