How to bid for LIC IPO using UPI?

lic ipo: How to purchase LIC IPO shares using UPI - The Economic Times

LIC IPO is one of the most awaited IPO among investors because it gives immense profit. Now the question arises what are the ways to apply for LIC IPO? The most common way to apply for LIC IPO is with the help of a broker by creating an account. Nowadays, most of our financial transactions are completed through UPI. UPI is easier to use and faster. Investors can bid for LIC IPO by using UPI, but for this, you need to inform about using the UPI id. Today we are sharing the steps which you have to follow forbidding a LIC IPO through UPI which is given below:-

  • An investor should enter the UPI ID in the application form of IPO and click on submit button.
  • After that, you will get a fund block request on your desired platform which is used for UPI.
  • Approve the request and click on proceed button to block the amount.
  • The desired funds will be blocked till an investor gets the allotment.
  • After the allotment funds will be debited from your account, the maximum limit per transaction through UPI is 2 lakh rupees.

Everyone should follow the same steps to apply for IPO with your UPI ID.

Mistakes avoid for UPI transaction

Every investor needs to follow these instructions which you have to remember while using UPI ID for applying IPO.

  • Never use a third-party bank account UPI ID while filling out the IPO application form.
  • Never link with the bank account which is not 2.0 certified by the NPCI while using RIBs.
  • Never submit one or more application forms with the same UPI ID in case of RIBs bidding.
  • Never submit incorrect details i.e. PAN number, DP ID, Client ID. It may reject your application form.
  • You have to recheck the UPI ID and provide a valid UPI ID before submitting it.  

These are some of the points which you have to avoid for a smooth and hassle-free bidding process of LIC IPO.

News about LIC IPO for investors

Every investor asks the same question when LIC IPO is launching. So we are giving you the answer to this million-dollar question. LIC IPO is postponed for the next year, because of the Ukraine-Russia war. Previously it was expected that it should be launched in March 2022. In the share marketing news, it makes sad many investors due to the conflict between Moscow and Kyiv.  

It also comes out from the study and research that approximately one crore new Demat accounts are open for bidding in the LIC IPO. With this IPO they targeted over 60,000 crores from the market.

Eligibility criteria for applying IPO

If you are a citizen of India and have a Demat account with the broker. You are eligible to bid on a LIC IPO. Investors are pretty much excited for LIC IPO. Share marketing news for LIC IPO becomes hot because many investors want to get IPO for LIC. Ten percent is reserved for the policyholders of LIC. NRIs are not eligible to apply for the LIC IPO. The nominees of the policyholder can’t apply for the IPOs.

Benefits for investing in LIC IPO

It is one of the biggest and most awaited IPO for investors. LIC is the most favorite company for doing insurance by the people. Almost seventy percent of the Indian population choose LIC for doing life insurance policies and it also 65% of the new premiums. The profit-sharing ratio is very huge and most reliable in between the users. It is the third most valuable company after TCS and reliance industries. After spreading the LIC IPO share marketing news to investors, everyone wants to bid for this IPO. The three foremost benefits in LIC IPO are given below:-

  • The transparency in the company’s policy.
  • Early entry
  • High returns in short terms

These points allure every investor towards LIC IPO.

Applications and banks that offer UPI payment

There are lots of application and platforms which offers UPI facilities to their clients for example MobiKwik, google pay, Paytm, amazon pay, and many more. Almost all of the banks that are providing UPI services to their customers such as Bank of Baroda, RBL, Axis Bank, Bandhan Bank, HDFC bank, etc. The UPI id for every platform is different. Still, you need to contact your service provider before using UPI for placing a LIC IPO bid. You can use your UPI ID for bidding IPO on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Epilogue 

After researching the behavior of investors, I would like to conclude almost every investor wants LIC IPO. But the whole world is standing on the verge of world war-3. LIC pushes the launch date of their IPO for the next year. Now you can apply through UPI for LIC IPO by following the easy steps which are already discussed above.