The initial share sale of Life Insurance Corporation of India (LIC) – biggest IPO in the history of Indian markets – opened for subscription on May 4. Investors can buy into the public issue also through various online merchants.
The country’s largest life insurer will sell shares worth Rs 20,557 crore in a price range of Rs 902-949. Existing policyholders will receive a discount of Rs 60 per share; retail investors and employees will get a discount of Rs 45 per share. To secure the allotment of shares, investors should apply for the stock at the higher price band.
Investors can bid for a minimum lot size of 15 shares and in multiples thereof. A retail investor can apply for up to 14 lots or 210 shares for an amount of Rs 1,99,290 at the upper price band.
Here’s how you can subscribe to the LIC IPO online through Zerodha, Paytm, Upstox, Groww:
LIC IPO through Zerodha Kite
Step 1: Log in to the mobile app, go to your account details and select the IPO option under the console.
Step 2: Enter your UPI ID.
Step 3: Click on bid option next to the LIC IPO.
Step 4: Choose the investor type – Individual or employee or a policyholder.
Step 5: Enter the lot size and cut-off price.
Step 6: Confirm and submit. Accept the mandate request for proceeding with IPO on your UPI app.
LIC IPO through Paytm Money
Step 1: Log in to the Paytm Money app and click on the IPO section on the home screen.
Step 2: You’ll be able to see a list of IPOs that are – open, recently closed and upcoming. From the IPOs open for subscription, click on LIC IPO.
Step 3: Fill out your IPO application form. Add details such as investor type, bidding quantity, cut-off amount, and so on.
Step 4: Now, add your UPI ID so that funds as per your highest bid are blocked. You will receive a mandate for the same on your UPI app.
Step 5: Once you accept the mandate, your application will be successfully submitted.
LIC IPO through Upstox
Step 1: Login to the Upstox application or website with your credentials.
Step 2: Go to the ‘Discover’ tab and click on the ‘Invest in IPOs’.
Step 3: Once you select the IPO you want to invest in you’ll see three options – ‘overview’, ‘timeline’ and ‘apply’. You can check out for more information from the overview and timeline tab, and proceed with your application by clicking apply.
Step 4: Once you click apply, you’ll be redirected to the application page, where you need to fill out your details. After filling out these details, click proceed.
Step 5: Now, enter your UPI ID and click ‘Confirm’. Before confirming, make sure to select the investor type – Individual, employee or policyholder.
Step 6: You’ll see a UPI Mandate payment pending message on the same screen.
Step 7: After you accept the mandate request, you can check the application status under the ‘Status’ tab on the same screen.
LIC IPO through Groww
Step 1: Login to the Groww app and click on the IPO tab on the main screen. It will take you to the list of IPOs that are ‘Open Now’ for subscription.
Step 2: Under the ‘Open Now’ tab, click on the apply button next to the LIC IPO tab.
Step 3: Now Place your bid and mention the number of lots you want to apply for. The number of shares can be in the multiples of the minimum lot size of the IPO. For the price, you can choose to bid at the cut-off price or you can choose any amount in the price range of the IPO.
Step 4: Do not forget to select the investor type- Individual, employee or Policyholder.
Step 5: Now, enter your UPI ID and continue. Following this, you will receive a mandate request on your UPI app. Approve the payment to complete the process.