Life Insurance Corporation of India (LIC) has been offering insurance coverage in India for more than 65 years. It is the biggest life insurance company in India, with a 64.1 per cent market share in terms of premiums (or GWP), a 66.2 per cent market share in terms of New Business Premium (or NBP), a 74.6 per cent market share in terms of individual policies issued, and an 81.1 per cent market share in terms of group policies issued for Fiscal 2021.
According to Brand Finance’s “Insurance 100 2021 study,” the Corporation’s brand, LIC, was ranked as the third most powerful and tenth most valuable worldwide insurance brand. On the other hand, according to the CRISIL Report, LIC had the biggest gap in market share by life insurance GWP compared to the second-largest insurance company in India when related to the leading companies in the top seven markets internationally (in 2020 for the other companies in Fiscal 2021 for LIC).
According to CRISIL, this is due to the Corporation’s huge agent network, strong track record, tremendous faith in the brand LIC, and 65-year history. As of September 30, 2021, LIC was the largest fund manager in India, with a self-contained AUM (consisting of policyholders’ investment, shareholders’ investment, and assets held to fund connected financial commitments) of 39,558,929.24 million, which was more than 3.3 times the total AUM of all personal life insurance companies in India. On September 1, 1956, the organisation was founded by combining and nationalising 245 private life insurance firms throughout India, with an initial capital of 50.00 million.
IIFL makes it simple to apply for LIC IPOs using Whatsapp. Apply now through a seamless interactive journey on the world’s largest chat app.
How to Apply for an IPO Via Whatsapp?
- Firstly, you have to message “Hi” to the IIFL Securities Whatsapp number 9892691696.
- Then tap on the “Apply for IPOs” option and reply with the serial number of the LIC IPO from the answered list you are willing to apply for.
- Once you have double-checked the IPO details, click “Apply Now.”
- Then you will have to select “Custom Bid” if you wish to enter a custom bid price. Otherwise, you can select “Cut Off Price.”
- Choose your “Lot Size” and press “Go Ahead” to place your bid after completing the last step.
- Enter your UPI ID for the final step.
- Your application has been successfully submitted. So go ahead and approve your UPI mandate using the UPI Payment App to start your LIC IPO journey.
How to Apply for an IPO Using the Indiainfoline Website?
- You will have to go to ttweb.indiainfoline.com and select Markets > IPO for the first step.
- Then a new tab, oneup.indiainfoline.com, will open, and you will have to pick the IPO for which you wish to bid.
- After that, enter the bid price and amount, then select Apply, Add More Bids (up to 3) or Modify Current Bid.
- Now, decide the category you wish to apply for after entering the bid price and amount.
- Enter the UPI ID and optional sub-broker code and click “NEXT.”
- Finally, a success prompt with your application number will appear if your bid is successful.
How to Use the IIFL Markets App to Apply for an IPO?
- Firstly, you will have to log in to the IIFL Markets app and select the menu option.
- Then you will have to go to Invest > IPO.
- Next, choose the IPO you wish to bid on, enter the bid price and amount, and click Apply.
- After that, add more bids (up to 3) or adjust the existing bid, then click Next.
- You will have to choose the category you wish to apply, input your UPI ID and sub-broker code (optional), and click “NEXT.”
- Lastly, if your bid is successful, a success prompt with your application number will appear.
How to Use UPI to Bid for IPO Shares?
- Fill out the IPO application form using your UPI ID and submit it.
- On the Google Pay app, you will receive a fund block request.
- Approve the request to ban the amount for the IPO in the Google Pay App.
- The monies will be held in your bank account until allocation, at which point they will be deducted. The maximum for IPO applications on UPI is Rs 2 lakh per transaction.
- The money will be deducted automatically from this blocked amount when the shares are allotted.
- Furthermore, the shares that have not been awarded to you and the blocked money will be unblocked on the mandate’s termination date or expiration date.
You will also learn about the share market today and LIC IPO on the IIFL website. After going through it, you will come to know about the market to deal with the best price.