It is well-known that the central government proposes to launch LIC IPO(Initial Public Offering) where 10% of the shares are to be allotted to the policy holders.
It was the proposal by the central government to disinvest 1.75 Lakh crores in this financial year. In this regard this IPO has gained significance.
As per the proposal, 10% of the shares should be allotted to the policy holders of LIC. So LIC reminds its policyholders to update Pan in their records before applying to the IPO.
In extension to its view, LIC suggests to open fresh demat a/c’s(For those who don’t have demat a/c’s till now)with their own-costs where LIC won’t bear the expenses of Pan card issuance and demat a/c opening and maintenance charges.
In this regard LIC is trying to create awareness to the policy holders where the aspirants who wish to apply for IPO must update their Pan in lic records.
So if you are wishing to apply for LIC IPO, you would have demat a/c(if you don’t have)and your Pan details would be updated. If you don’t have till now, hurry! Update it as soon as possible and apply for India’s largestinsurance provider LIC IPO!