With regard to its proposed IPO, LIC on Saturday published an advertisement in leading newspapers advising policyholders to update their Permanent Account Number (PAN) details and open demat accounts to participate in the offering.
“Policyholders to participate in any such public offering will be required to ensure that their PAN details are updated in the records of the corporations. In addition, it is possible to subscribe to any public offering in India if you have a valid demat account. Accordingly policyholders should ensure that they have a valid demat account,” the advertisement stated.
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How LIC policyholder can update PAN details with the insurer to participate in his proposed IPO
Now, if you are a policyholder who wants to invest in the proposed LIC IPOIf you do not have a demat account, here is how you can open a demat account. (These are as per LIC Advertisement):
To open a demat account, visit the website of any depository participant in which you wish to open a demat account. You can choose from these links to know about Registered DPs:
- NSDL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=19
- CDSL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=18
The securities in the demat account are held with the Depository Participant (DP). There are two DPs – National Securities Depository Limited (NSDL) and Central Depository Services India Limited (CDSL). The DP holding your demat account will depend on who your broking firm has tied up with. Anyway, there is not much difference between the services of both the DPs.
Provide the following documents to the DP to open your Demat account:
Documents required to open Demat account:
- recent photograph
- pan card
- Address proof
- canceled check
Also Read: Want To Open Demat Account? here’s what you should know