New Delhi | Jagran Business Desk: The much-awaited initial public offering (IPO) of Life Insurance Corporation (LIC) will open on Wednesday with a price band of Rs 902 to Rs 949. Expected to be the biggest IPO that has ever been floated in India, the LIC initial public offering will help the government raise Rs 21,000 crore.

How can I apply for IPO?

If you are interested in applying for the LIC IPO, you would need some documents, including identity proof, age proof, and bank details. Along with that, you would need to open a Demat account and get your know your customer (KYC) done. After this, follow the below-mentioned steps to apply for the IPO:

Step 1: Open your net banking account and select the option that reads "IPO/e-IPO".

Step 2: Enter your bank details and other information asked on the website to complete the verification process.

Step 3: Select the "Invest In IPO" option and then select "LIC".

Step 4: Enter the number of shares and the bid price. Then click on "Apply Now" to complete the process.

Here it must be mentioned that people who are LIC policyholders would need to link their policy and Demat account with their Permanent Account Number (PAN) account.

Other key details about the LIC IPO that you need to know:

Date: The IPO will open for the general public on May 4 and close on May 9.

Price: The price band has been fixed at Rs 902 to Rs 949 per equity share.

Discount: LIC policyholders will get a discount of Rs 60 per equity share. Similarly, the employees of LIC will get a discount of Rs 45 per equity share.

Application Limit: The maximum number of lots that a single bidder can apply for is 14.

Investment Limit: The minimum amount for a single investor needed for LIC IPO is Rs 14,235. Likewise, the maximum amount is Rs 1,99,290.

Posted By: Aalok Sensharma