Life Insurance Corporation of India’s (LIC) largest IPO to date will open this week. So, who is eligible to invest in it and how to invest in it is currently being discussed. Investors must have a demat account for this.
Meanwhile, State Bank of India (SBI) in a tweet asked its clients to open business and transaction accounts on Yono ahead of the launch of the mega IPO. SBI wrote in a tweet: “Start your investment journey today!” SBI said that if you open your business and demat account in Yono, you will not incur any opening fees and you will get a special discount for the first year after completing DP MC.
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Previously, SBI had issued similar notices for LIC IPO investments through the SBI Securities Trading and Trading Department. However, to start investing, clients must follow certain rules, SBI said.
To invest in LIC IPO, you must first log in to the Yono app and then go to ‘Investments’ and open your trade and demat account. Once this is done, investors can easily bid for the LIC IPO. In addition, SBI has also waived the opening and DP AMC fees for the first year of dematization and business accounts.
LIC will launch the initial public offering on May 4, 2022 and will be available for subscription until May 9, 2022. Anchor IPO is open to investors on May 2, 2022. The initial public offering includes an offer to sell of Rs 20,557 crores, where the central government will sell its 3.5% stake. Based on this, a total of Rs 22.10 crore worth of shares will be offered.