New Delhi: Today is the last day for Life Insurance Corporation (LIC) policy holders of India to connect their PAN cards with behemoth insurance.
The LIC has made it mandatory for policyholders to connect the PAN card with the LIC if they wish to subscribe to the upcoming IPO. (Read also: Can lower policy liabilities apply to IPO? Learn here)
Here is the direct link, using which you can connect your PAN card with the online LIC system.
LIC in red herring design has set a deadline for policy owners to connect their PAN CARD with LIC. Representatives may do so before February 28, 2022. (Read also: LIC IPO open today? 10 important things to know)
“Our Company policy manager will ensure that your PAN details are updated in our Company policy records early. User policy does not update your PAN details with our Company before the end of two weeks from the date of submission of Draft Red Herring Prospectus with SEBI (ie, through February 28)
Here is the procedure for updating your PAN details with LIC online
1. Visit the Corporation website mentioned above.
2. Make sure your policy number, PAN, date of birth and email ID, which you need to fill in while updating your PAN.
3. You can update the records for all your LIC processes using the link above.
4. You can also check whether your PAN is registered in your policy or not by visiting the Company’s website www.licindia.in OR https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus?
Alternatively, you can also contact your LIC Representative for assistance.
The LIC in February filed a lawsuit with capital Sebi market manager for a 5 per cent sale by the government for an estimated Rs 63,000 crore.
Considered to be the friend of the nation’s largest public ever, an IPO of more than 31.6 crore shares or 5 per cent of the government is likely to hit the D-street in March and officials say and behemoth insurance policyholders will receive a discount on land charge. . The LIC IPO will be the largest IPO in the history of the Indian stock market and once listed the LIC market price will be comparable to high profile companies like RIL and TCS.