LIC IPO: Deadline for policyholders to update PAN to apply for shares

To invest in the much-awaited LIC IPO, policyholders must have two things: policyholder's PAN should be updated on the LIC portal, policyholder should have a demat account.

According to the LIC DRHP filed with SEBI, a policyholder who does not update his/her PAN before February 28, 2022 will not be eligible to participate in its IPO under the portion reserved for policyholders. According to the LIC DRPH, “A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28, 2022) shall not be considered as an Eligible Policyholder.”



The initial public offer is completely an offer for sale of 31,62,49,885 equity shares by the promoter, which holds a 100 per cent stake in the insurance behemoth. The President of India, acting through the Ministry of Finance, Government of India, is the promoter. The retail portion has been fixed at 35% of the offer. The policyholder reservation portion will not exceed 10% of the size and may also be offered at a discount. Here is how an LIC policyholder can update PAN.

Also read: Which LIC policyholders cannot apply for discounted IPO shares?

How to update PAN details in LIC policy
In the LIC policy, the PAN number of the applicant must be updated to invest in the IPO. The Life Insurance Corporation of India has previously requested that LIC subscribers can link their life insurance policies to their PAN cards in order to participate in the LIC IPO.

How to update PAN details on LIC website
Step 1: Visit the official LIC website https://licindia.in/
Or visit the page directly- https://linkpan.licindia.in/UIDSeedingWebApp/
Step 2: From the home page, select the 'Online PAN Registration' option.
Step 3: On the Online PAN Registration page, tap the 'Proceed' button.
Step 4: Provide correct email address, PAN, mobile number and LIC policy number.
Step 5: Enter the Captcha code in the box.
Step 6: Click on 'Get OTP'
Step 7: Once you've received the OTP, input the OTP digits into the space provided for it on the portal and submit.

How to check PAN-LIC status
Step 1: Visit https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
Step 2: Enter Policy Number, Date of Birth, and PAN information, as well as the captcha. Then press the Submit button.

Also read: 2 things policy holders must have to apply