Last Updated on April 22, 2024 by Jawad Ali
Investing in IPO has become the new trend in the stock market as many people have made a good fortune out of it. And now, with LIC the upcoming launch of the LIC IPO, the IPO buzz is hitting new highs. It is because LIC, or the Life Insurance Corporation of India, is one of the country’s oldest and most renowned companies. It is not only the largest insurance provider in India but is also one of the largest insurance providers in the world. Through the IPO or initial public offering, retail investors will become investors in LIC for the first time. As a result, many new investors have entered the stock market to apply for LIC IPO.
IPO Application Requirements
If you are new to investing or have never invested in the stock market before, but the LIC IPO has caught your attention, worry not; applying for an IPO is quite simple. Applying for an IPO, including the LIC IPO, is easy if you apply online. For that, you need a demat account to help store your shares onlines. At the same time, you need a trading account to buy and sell shares. You can open a Demat account and a trading account with a stockbroker, who is a registered depository participant. IIFL lets you open a demat and trading account for free with no account opening charges.
To learn more about opening a Demat account, you can visit the IIFL Securities official website. However, here is a quick mention of the documents you will require to open a demat account to invest in the LIC IPO. You will need documents like your PAN card, Aadhaar card, and photograph to prove your identity. At the same time, you submit copies of your passport or driver’s licence as an address proof and a cancelled cheque for bank details. Stockbrokers like IIFL Securities only require you to send digital copies of your documents. After this, once the authorities authenticate your account, you can invest and apply for IPOs.
The easy Application process for IPO with IIFL
Now that you have a Demat account and a trading account, you can apply for any open IPO for a subscription. IIFL Securities provides you with three easy methods to apply for an IPO.
Method 1: Using WhatsApp
IIFL lets you apply for any IPO using WhatsApp. If you have a demat account with IIFL and wish to subscribe for an IPO open for subscription, you can do it with a few texts on WhatsApp. You just need to text “Hi” on the IIFL’s WhatsApp Channel. You then select “Apply for IPOs” and then text the serial number of the IPO. Then, select “Apply Now” and place your bid and a lot size.
Method 2: Using the IIFL Markets App
The second method to apply for an IPO is using th Market App. First, select “Invest” in the app and then select the “IPO” option. After this, you select the IPO you wish to bid for and enter your bid and the lot size. You then select apply and proceed to keep aside funds for the IPO.
Method 3: From the IIFL Website
You can also quickly apply for an IPO, including the LIC IPO, from IIFL’s official website. First, you go to the IIFL website, log in, and select the IPO option. You then choose the IPO you want to bid for, and then set your bid price and lot size and click apply.
After you apply for the IPO using either of the methods, will you have to set aside an amount to pay for the IPO shares? You can make a payment using your UPI when a payment prompt appears on your screen. If you are not allotted the IPO, your money will get refunded.
LIC IPO Subscription
To apply for LIC IPO, or for that matter, any IPO, the IPO should be open for subscription. The subscription dates are not yet announced for the LIC IPO. Once the authorities announce the dates, you can apply for the IPO through IIFL Securities using any of the abovementioned processes after you open a Demat account.
Along with the subscription date, the authorities will also announce the bid price band and the lot size. All of this information will be available on the IIFL website. You can visit the IIFL website to learn more about LIC before you apply for LIC IPO.
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