If you are an existing user in Upstox and want to know how to apply LIC IPO in Upstox? Read our complete article. But before you must know what is LIC IPO? The Government of India has decided to reduce its holding in LIC by introducing LIC IPO in 2022. This is basically set up for making LIC more transparent and efficient. This fast-track IPO is a section of the disinvestment of government stake in LIC.
The expected date for LIC IPO is in the fourth quarter of the financial year 2021-22. LIC IPO offers a great chance to retail investors and employees to invest in the company on a long-term basis, also making quick listing day gains. It is also defined that the LIC Policy Holders may get a reserved quota in this IPO.
Note – If you are a beginner and don’t have a demat account then you need to open a Demat account in Uptsox
Steps to Open Demat Account in Upstox –
Visit Upstox.com and go to the opening page.
Create your account by entering your email ID, and creating a unique password and mobile number.
Now enter your PAN CARD number, and Aadhar Card, after this you will receive an OTP for verification on your mobile.
You need to pay some specific fees for opening the account through an integrated payment gateway. The fees are mainly for the sort of instruments like- Equities, derivatives, commodities, etc. if you would like to trade. Upload the documents mentioned above and select the pricing plan. For complete information visit our blog on how to open demat account in Upstox.
How to Apply LIC IPO in Upstox?
There are two ways to apply LIC IPO for Upstox Customers:
- Through Upstox IPO application ( UPI Based )
- Net Banking IPO Application ( ASBA Based )
Upstox IPO Application ( UPI Based):
Upstox provides online IPO applications to its Customers. Upstox customers can easily apply in IPOs at BSE and NSE Online using UPI as a payment gateway.
Note: Customer is required to have a UPI to apply in an IPO using Upstox.
The main holder of the bank account ( used in UPI ) and demat account should be the same.
There is no 3rd party allowed for an IPO. You can not apply for an IPO by using your family member’s demat account on your bank account ( UPI).
Through Net Banking IPO Application ( ASBA Based) :
If you are already a upstox customer and not able to use Upstox IPO (UPI), then you have an option to invest through the ASBA facility provided by your Bank. So, here are the steps to apply for IPO using ASBA net banking.
- Visit the website of the bank and log in to your account
- Click on to ‘invest in IPO’ section of the website
- For the first time in a few banks, you need to register as an applicant by providing your bank and demat account details.
- Choose the LIC IPO you want to invest
- Select the account and a few of the details will be auto-populated.
- Fill in the details like a number of lots you want to apply, price, etc.
- Confirm and submit the application.
Also Read Our latest Blog if you are registered user in these Stock Brokers to invest in LIC IPO –
In the conclusion, it defines how to apply LIC IPO in Upstox for beginner and already existing customers. There are two ways to apply for LIC IPO in Upstox. 1. Upstox IPO Application (UPI Based), 2. Net Banking IPO Applications (ASBA based).