If you are planning to be part of the process of subscription to the LIC IPO and want to participate, you should sign up for an account with a demat. Additionally it is also necessary to know how to subscribe for an IPO.
The Life Insurance Corporation of India’s (LIC) first public offer (IPO) is scheduled to open for registration in May 4. The government hopes to raise approximately 21,000 crores which would make it the country’s largest initial public offering. The government wants to sell its 3.5 percent stake in the insurance company by offering 22.13 crore shares via the offer-for-sale (OFS) option.
It is anticipated that many investors with no previous experience in putting money into an IPO will be taking part in the initial share sale. They’ll be looking to take part in the subscription process , perhaps in the very first instance.
Anyone who is willing to be part of the process of subscription to the LIC IPO is required to establish an account with a demat. Additionally it is also necessary to know how to subscribe to the IPO.To know more such interesting things, visit our website TrueScoopnews.
Demat ACCOUNT
Dematerialisation account, also called Demat account is vital for anyone who wishes to invest in stocks.
Investors must choose an account with a broker that they wish to establish an account in demat.
The broker can be digital banks, online investment platforms, or stockbrokers.
After the broker has been chosen, investors will need to go to the website of the broker before beginning the process of opening their demat accounts.
The first step is for investors to designate an individual to be a nominee. There is an application form that must be filled in.
Investors must fill out the form Know your Customer (KYC).
They must provide documents like identity proof, proof of address or bank statement, as well as income evidence.
After the filing and verification of documents have been completed investors will be required to pay brokerage fees.
There will be a requirement for verification in person at the brokerage house, which will be conducted in person or online.
If the request to create a demat account has been accepted, investors will be issued an individual 16-digit demat account account number, and the identification of the beneficial owner.
The investors are able access their demat accounts online with the 16-digit code.
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LIC IPO Application Online
The issue will be opened for registration on May 4, and will be scheduled to end on May 9. The price band is determined at between Rs 902 and 949 per share.
Investors must log in to their accounts on net-banking online.
They then need to go to the investment section and click on the IPO/eIPO option.
Investors will then need to fill out depository information and bank account information.
When these data have been filled in the verification process is completed.
Following the verification process, investors must go to “Invest into LIC IPO”.
Investors must choose the IPO for which they’d prefer to apply.
Investors are then required to fill in the number of shares they wish to purchase as well as”bid price” “bid cost”.
Investors should carefully go through carefully through the “Terms and Conditions” document prior to placing any bid.
Investors then have the option to confirm and make their purchase through “Apply Right Now”.
