Open a Demat Account for LIC IPO Investment
There are few investors across India who are not focusing on the mega offering set to launch soon, the LIC IPO. The anticipation over the investment in the Life Insurance Corporation of India’s initial public offering has built up to a frenzy, with delays just enhancing the enthusiasm to invest in this. If you are an investor who wishes to make an investment in this upcoming IPO, you may through a prominent brokerage firm like Motilal Oswal. Firstly, you have to open a Demat account with the broker, and you can do this conveniently online.
Open a Demat Account for LIC IPO Investment
Since you are essentially investing in a bulk lot of stocks of a new company that is about to be listed on the stock exchange, a Demat account is a necessary condition for investment. A Demat account is opened so that your stocks can be held securely, in electronic form. When you wish to open a Demat account, the first step to take is to approach a reliable broker who will also aid your investment process in the LIC IPO. Such a reliable broker is Motilal Oswal, and you get the facility of online services seamlessly with this broker.
How to Open a Demat Account
Most experts and analysts will advise you to open a Demat account for any investment you make. Motilal Oswal helps you to open a free Demat account on its portal. This is done in an easy fashion in a few simple steps online as detailed below:
- Head over to the website of Motilal Oswal.
- On the homepage, you will see a tab that says, ‘Open a Demat Account’.
- After you click on the relevant tab, you will be shown a field to enter your phone number.
- When you submit your phone number, you will receive an OTP via SMS, and you have to fill that in a required field as displayed.
- Then you will have to enter your email ID in a relevant field.
- Once your email ID is sent, you will have to upload certain mandatory documentation for KYC clearance. These documents will be in the form of your Aadhaar and PAN Cards, and bank information as required. This completed the process of your eKYC.
- After a brief verification, you will need to provide an e signature.
Your Demat account opening process is completed with your e signature and your account will be active in a short while. It is important to note that you can open a Demat account for a minor if the account is opened as a joint account with an adult guardian. In the course of your application process, you have the option of choice of ages and names of joint account holders.
Get the Latest IPO News
Recent news about the LIC IPO has investors in a good mood. The IPO will finally be open on 2 May 2022 for LIC employees and policyholders. Retail investors will get their opportunities for investment on 4 May. The offer is due to close on 9 May. Additionally, the price band fixed is Rs. 902- Rs. 949. In more news, the Indian government plans to give LIC policyholders a 60% discount and retail investors and employees, a 45% discount.
In other news concerning the IPO, the LIC board decided to cut the IPO’s issue size from 5% to 3.5%. Now, the government will sell only its 3.5% stake which amounts to Rs. 21,000 crores.
LIC IPO Application Via MO
You can open a Demat account free of charge at Motilal Oswal (MO) and apply through this proficient broker for the LIC IPO when it is initiated. Once the IPO is ready to accept applications for allotment of its shares, your brokerage will be notified and in turn, so will you. You will have to fill out an application for the IPO along with your Demat account ID. Then you will have to patiently wait for a share allotment which will reflect in your Demat account once authorised.
