Life Insurance Corporation (LIC) has filed draft papers with Sebi for the sale of a 5% stake by the government. The initial public offering of over 31.6 crore shares or 5% government stake is likely to hit the D-street in March. LIC has reserved not more than 5% for its eligible employees and not more than 10% for its policyholders. “The aggregate of reservations for eligible policyholder(s) shall not exceed 10 per cent of the offer size,” the DRHP stated.
LIC policyholders, who want to bid under the reserved quota, have been asked to link their policy with PAN number. LIC has announced 28th February as the last cut-off date for the linking of the policy with the PAN. Policyholders would be deemed ineligible to apply under the reserved quota if they fail to abide by the timeline.
LIC policyholders and employees would also be given a discount on the floor price. The quantum of the discount would be communicated at least two days before the bid opens.
PAN link policy number: Here’s how to go about it
1. Go to the official 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 regarding the documents you need. Then, click on ‘Proceed’
4. Now, provide your 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
Also, policyholders who are not well-versed with the technology can ask their agents to do it for them.
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