To take the IPO of LIC, the details of your PAN will have to be updated in the records of the corporation. Along with this, first demat account has to be opened. Investing in any IPO is not allowed without opening a Demat account. This is also a necessary condition for LIC’s IPO.
LIC IPO
Life Insurance Corporation of India (LIC) Very soon its IPO (LIC IPO) is about to bring. With this, common people will also be able to buy LIC shares. That is, earlier it was a completely government company. But after the IPO comes, the general public will also be part of it. If you are a policyholder of LIC and want to participate in LIC’s IPO, then two important things have to be done. First thing, you have to make sure that your PAN (PAN) is in the records of LIC.PAN) should be updated. Second thing, you have to open a demat account. Only then will you be able to buy LIC shares.
LIC has said that if policyholders want to participate in the IPO, then they will have to update their PAN details in the records of the corporation. Another important task is to open a demat account. To subscribe to any IPO in the country, it is necessary to have a demat account. If the policyholders of LIC want to take an IPO, then the same rule applies to them. First they have to open their demat account. LIC IPOs can be taken only if you have a valid demat account.
how to open demat account
If you are a policyholder of LIC and want to invest in the proposed LIC IPO and do not have a Demat account, then let us know how to open one. You do not need to go to any bank for this. You can open a demat account on your laptop on your mobile sitting at home. The Depository Participant can visit any one of the two websites to open a Demat account. For this, two links are being given below from where you can easily open a demat account.
- NSDL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=19
- CDSL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=18
Actually, whatever security is kept in the demat account, it is operated or maintained by the depository participant only. It has the names of two depository participants- National Securities Depository Limited or NSDL and Central Depository Service India Limited (CDSL). Where your demat account will be opened in both these depositories will depend on the depository with which your broker has an agreement. However, the work of both the Depository Participant is same and there is no difference in the matter of work.
These documents will be needed
LIC has said that in order to open a demat account, the policyholder should have fresh photographs, PAN card, address proof and canceled cheque. Based on this, any LIC policyholder can easily open a demat account and invest in LIC’s IPO.
How to Open Demat Account Online:
- The request for opening a Demat account with any Depository Participant can also be made online.
- Visit the website of your chosen DP
- Click on the ‘Open Demat Account’ tab and submit the following details
- Name Email ID Mobile Number One-time Password (OTP) you will receive City
You will get message from DP to complete all these work and contact you for opening demat account. You will need to provide the following details to your demat service provider:
- dp id
- Beneficiary ID or Demat Account Number
- Power of Attorney (POA) Number
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