The government will launch the initial public offering (IPO) of the country’s largest insurer, Life Insurance Corporation (LIC), in the fourth quarter.
The listing will be crucial for the government to meet its disinvestment target. It aims to mop up ₹1.75 lakh crore in the current fiscal.
As per the government’s proposed plan, up to 10 per cent of the LIC IPO issue size would be reserved for policyholders. Last week, the insurer asked its policyholders to update their PAN, so that they can participate in the IPO.
“In order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the corporation’s records. Further subscribing to any public offering in India is only possible if you have a valid DEMAT account,” LIC had said in a public notice.
Enter your policy dumber, date of birth, PAN and captcha. Press Submit.
After this, you will see the status of your LIC policy and PAN link. If your PAN is not linked, follow these steps:
- On the website’s home page, select ‘Online PAN Registration’
- On the online PAN registration page, hit ‘Proceed’ at the bottom
- Thereafter, enter DoB, gender, Email ID, PAN, full name as per PAN, mobile number and LIC policy number
- Click the declaration checkbox
- Enter captcha
- From registered mobile, request an OTP
- Key in the OTP into the portal. Hit submit