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LIC IPO: Step By Step Guide To Buy Shares Online
Investors and bidders can apply for the biggest ever IPO of Life Insurance Corporation (LIC). It is open for shareholders until today, May 2022. You can apply for the same online by following a few simple steps. Notably, the bidding process for the IPO worth Rs. 21,000 crore was opened on May 4 and ran through the weekend.
As it is the last day for the bidding, you can bid for the shares today as well. The LIC IPO will most likely be the biggest one in Indian history and it will hit the bourses on May 17. It will get listed on the stock exchanges such as BSE and NSE.
The state-owned insurance behemoth has subscribed 1.79 times till May 8. Shares of the company were priced at Rs. 36 in the grey market, which was Rs. 85 earlier. The policyholders can get a discount of Rs. 60 per equity share. As per the market watchers, the LIC IPO GMP (grey market premium) was Rs. 36, which means grey market is expecting the listing around Rs. 985 levels (Rs. 949 + Rs. 36).
How To Apply For LIC IPO Online
You can apply for the LIC IPO online via several apps and options. Check out the steps detailed below to subscribe to it via your Demat account.
Step 1: Login to the Demat account.
Step 2: Head on to the IPO section from the menu option.
Step 3: Choose the 'LIC IPO' tab and click on the category 'Policyholders'.
Step 4: Fill in the details, place a bid on the shares and hit Submit.
Step 5: Accept the mandate from the participating bank.
Step 6: Choose 'Apply Now' from the options in the menu.
Step 7: Complete the payment option using any payment method such as UPI to buy the LIC IPO shares.
Step 8: Your amount will be locked till the allotment is announced.
That's it! You need to wait for the allotment date, which is slated for May 12, 2022 and the listing will be announced on May 17. You can also do the same via Paytm, Upstox and other services.