LIC IPO: Check direct link for PAN-LIC linking, mandatory for IPO subscription

New Delhi: Life Insurance Corporation (LIC) of India has made it mandatory for policy holders to link PAN Card with LIC if they wish to subscribe to the LIC's upcoming IPO.

LIC had previously issued a public notice to all the policyholders of LIC of India regarding subscription of the company’s upcoming IPO stating that its upcoming IPO can be subscribed by the policyholders only if their PAN Card is updated in the company's records.

Here is the direct link, using which you can link your PAN Card with LIC policy online.

https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus

LIC in the draft red herring prospectus has set a deadline for policyholders to link their PAN CARD with LIC. Policyholders can do so before February 28, 2022.

“A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28)

Here is the process for updating your PAN details with the LIC online

1. Visit the Corporation website mentioned above.

2. Keep ready your policy number, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.

3. You may update the records for all of your LIC policies using the above link.

4. You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website www.licindia.in OR https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus?

Alternatively, you may also contact your LIC Agent for assistance.

LIC had last week filed draft papers with capital market regulator Sebi for the sale of 5 per cent stake by the government for an estimated Rs 63,000 crore.

Touted to be the country's biggest ever public offering, the IPO of over 31.6 crore shares or 5 per cent government stake is likely to hit the D-street in March and employees and policy holders of the insurance behemoth would get a discount over the floor price. The LIC IPO would be the biggest IPO in the history of Indian stock market and once listed LIC's market valuation would be comparable to top companies like RIL and TCS.

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