The Life Insurance Corporation of India’s (LIC) first public offering (IPO) will be accessible to retail investors on May 4, with anchor investor subscriptions beginning on May 2. On May 9, India’s largest public offering will conclude.
Retail investors interested in participating in the IPO must have a Demat account in their name. Demat account holders can apply for the IPO through their broker.
The IPO’s price band per share has been set at Rs 902-949, and an investor must apply for a minimum of 15 shares, which is the size of a single lot of the IPO.
How to Create a Demat Account
1. It is required for investors bidding on the LIC IPO to create a Demat account.
2. The Demat account should also correspond to the PAN associated with your LIC insurance.
3. You can open a Demat account with a participant in a depository. The list of depository participants may be seen on the NSDL and CDSL websites. Online banks, digital investment platforms, and stockbrokers might all be depository players.
4. To open a Demat account, you will need address evidence, a PAN, a cancelled check, and passport-size pictures. The depository participant may levy a nominal fee, and the activation of the Demat account is subject to KYC verification.
5. The KYC verification also involves a required in-person verification with the brokerage company, which may be completed both online and offline.
6. Once the Demat account is authorised, you will be given a 16-digit Demat account number, also known as the beneficial owner identification number.