The Life Insurance Corporation (LIC) in the preparation of its Initial Public Offering (IPO), has asked its policyholders to update their PAN details. LIC has proposed a plan to the Securities and Exchange Board of India (SEBI), which will allow LIC to a lot 10 per cent of the LIC IPO issued size reserved for the policyholders.
To participate in the IPO, the policyholders of LIC will need to have a valid DEMAT account. Along with that LIC have also started active advertisements to inform its policyholders about the upcoming IPO and to update PAN details and KYC, so that LIC can participate in the proposed public offering.
