How to apply for LIC IPO online through Paytm via UPI

LIC IPO bidding to begin tomorrow. Govt plans to raise ₹20,557 cr. Here is How to apply for LIC IPO online through paytm using UPI.

Know how to apply for LIC IPO online through Paytm via UPI (REUTERS)

India's biggest insurance company, LIC will begin its initial public offering (IPO) tomorrow on May 4. It will be the biggest IPO that the country has ever seen in terms of valuation. The government is aiming to raise Rs. 20,557 crore through the issuance by just giving up a 3.5 percent stake. The anchor investing option has already been opened on May 2 due to high demand. The LIC IPO price band is fixed between Rs. 902 and Rs. 949 per equity share. Here's all you need to about how to apply for LIC IPO online via UPI:

When will the LIC IPO open for bidding?

The LIC IPO will be opened for bidding on Wednesday, May 4 and will continue till May 9. However, the company has already opened its IPO for anchor investors on May 2 and it gets oversubscribed with bids of over 7000 crores.

How to Apply for LIC IPO online?

One can apply for an IPO in the offline method as well as online. Here's how you can apply for LIC IPO online. But before you proceed, do note that a Demat account is a must to invest in an IPO.

How to apply for LIC IPO online by using Paytm Money

Time	Tools	Supplies
30 Minutes	Smartphone Laptop	Updated browser Internet

Step 1:

First log in to the Paytm Money app and complete the digital KYC for stocks.

Step 2:

Once your details are verified and the Demat account is created, click on the IPO section available on the home screen.

Step 3:

You will see a list of past and upcoming IPOs, there look for LIC IPO. 

Step 4:

Now add details for bidding such as quantity, amount, and others. Notably, maximum 3 bids are allowed.

Step 5:

Now enter your UPI ID to block the funds of your highest bid. Once done, you will receive a mandate for the same on your UPI app.

Step 6:

Accept the mandate and application will be successfully submitted.

Step 7:

Once the allotment takes place, you would be notified about your Life Insurance Corporation (LIC) IPO allotment status.