In order to participate in the LIC initial public offering (IPO), customers were asked to update their PAN details. The deadline for updating PAN is February 28, 2022.
According to the LIC DRHP filed with SEBI, policyholders who do not update their PAN before February 28, 2022 will not be able to invest in the LIC IPO under the amount allocated for policyholders.
LIC DRPH demands that all policyholders make sure their PAN information is updated in the company’s policy records as soon as possible. By the deadline of February 28, 2022 (i.e., by the filing date of this Draft Red Herring Prospectus with SEBI), any policyholder without updated PAN details with our Corporation shall not be considered as an Eligible Policyholder.
An employee will receive a portion of the stock not to exceed 5% of the total offer that is set aside for them. Qualified policyholders will receive a portion of the proceeds, not to exceed 10%. Employees and policyholders are likely to receive discounted shares.
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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: Click on the ‘Online PAN Registration‘ link on the home page.
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: After receiving the OTP, input the OTP digits into the portal and submit.
How to check PAN-LIC status
Step 1: Visit https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
Step 2: Enter your policy number, date of birth, and PAN along with the captcha. Click the Submit button.