LIC has set a deadline for policyholders to Link PAN CARD with LIC in the draught red herring prospectus. LIC has set February 28th as the deadline for tying the insurance to the PAN. If policyholders do not comply with this deadline today, they will be judged ineligible to apply under the limited quota.
LIC PAN Link Last Date
Individuals who want to be eligible for the LIC IPO under the limited quota must link their PAN Card data to their policy records. Only policyholders who purchased their insurance on or before February 13th of this year will be deemed eligible.
Last week, the LIC submitted the Draft Red Herring Prospectus (DRHP) with India’s Securities and Exchange Board (SEBI). The DRHP is raised before the IPO and contains information on the firm and growth projections. Qualified Institutional Buyers will get 50% of the LIC issuance, which has been reserved by the business (QIB). Retail investors have 35 percent of the remaining issues designated for them. Non-Institutional Investors (NII) can purchase 15% of the offering.
LIC PAN Card Link & IPO Status
In March, LIC will go public. This IPO has sparked a lot of interest among investors. The corporation will establish a separate digital sector to gain market share while minimising reliance on its agents. LIC’s market share has decreased from 68.05 percent to 61.4 percent in terms of premium revenue. Since June 2020, LIC has lost around 13 percentage points in market share compared to private life insurance providers. This is the country’s largest-ever IPO, with a proposal to earn Rs 63,000 crore by selling a 5% interest in the government through an offer for sale.
How to update PAN details on LIC website
Follow these steps to update & link PAN on LIC website:
- Visit www.licindia.in and click on the image “Link Aadhaar and PAN to LIC Policies.”
- After carefully reading the material, click the “Proceed” button.
- Fill up your information, including your name, date of birth, father’s name, gender, Aadhaar, PAN, policy number, and e-mail address.
- Read the disclaimer and check the box.
- Enter the captcha code and click the “Get OTP” button to receive your OTP. Your Aadhaar-registered cellphone number will get an OTP.
- Enter the obtained OTP and press the “Submit” button.
- Your Aadhar-LIC Policy connecting request will be processed.
- The information is forwarded to UIDAI’s CIDR for verification. The LIC insurance would be linked to Aadhaar and PAN.
- After that, you will receive a confirmation message on your registered cell phone number and e-mail address.
How to Check PAN: LIC Policy Status for LIC IPO
Follow these steps to LIC PAN Link status:
- Navigate to https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus.
- Submit the essential information, such as the policy number, date of birth, and PAN card information.
- After that, input the Captcha.
- Select the Submit option. You will be informed of the situation.
Benefits of Linking Pan with the Life Insurance Policy
Below are some of the advantages of tying Pan to the life insurance policy:
- To invest in the LIC IPO, the policyholder must first register with the LIC.
- Policyholders are not required to pay any additional fees to create a Demat account.
- A present LIC policyholder will profit in the future if they invest in IPO share allotment.
- Make a rapid decision by investing your money in LIC allotment to reap significant returns in the future.
- The finance ministry has set aside a percentage of shares for current LIC holders.
- LIC IPO allotments are extremely useful in generating a significant return over a more extended period.