LIC IPO: Apply through ASBA for maximum gains

Pay zero fees! The ASBA facility does not attract any charge. You do not have to pay anything even if you receive the shares.

India’s biggest initial public offering (IPO) is here!

The Life Insurance Corporation of India (LIC) is expected to launch its IPO in the first week of May. But what makes it better is that you can now apply for the LIC IPO in a few clicks and become a stakeholder in the insurance behemoth in minutes. Exciting, right?

There are many ways in which you can apply for the LIC IPO, but IDFC FIRST Bank’s ASBA facility stands out. Read on to get started on your journey to becoming an LIC shareholder.

What is ASBA?

ASBA is a convenient platform to apply for IPOs. It stands for “Application Supported by Blocked Amount” and allows you to Submit application for IPOs, rights, etc., such as the LIC IPO. In ASBA, the IPO application amount is blocked in your savings bank account, whilst earning interest. The funds are not debited unless you are allotted the shares.

The funds are debited only if shares are allotted, otherwise the hold is released instantly when allotment process has been completed

With IDFC FIRST Bank it gets even more exciting as it offers interest up to 6%* per annum on your savings account, with a monthly credit of interest in your account. Using the ASBA facility with IDFC FIRST Bank can help you earn interest on the blocked LIC IPO amount, increasing your wealth. This extra income is bound to open up a world of opportunities for you.

Why do you need ASBA?

IDFC FIRST Bank’s ASBA facility is one of several ways to apply for the upcoming LIC IPO. However, it offers unique benefits that can help you earn money regardless of whether you get the shares. Some of its key benefits have been listed below.

1. Digital process

IDFC FIRST Bank’s digital approach will help you quickly apply for the upcoming LIC IPO. Unlike other methods, the ASBA facility is fast and secure. You can apply for the IPO of LIC with a few clicks and stake your claim for a piece of the insurance giant.

2. Earn interest on the blocked amount

The ASBA facility offered by IDFC FIRST Bank is lucrative because you can earn more interest than anywhere else. Since the LIC IPO amount is simply blocked and not debited, it will be part of your savings account balance. You can earn interest on it, which is credited monthly in your account.

Click here to open a savings account with IDFC FIRST Bank.

3. Pay zero fees

The ASBA facility does not attract any charge. You do not have to pay anything even if you receive the shares.

How to apply for an IPO using ASBA?
 

Applying for the IPO of LIC is easier with ASBA. Here is how you can do it with IDFC FIRST Bank:

• Log into your IDFC FIRST Bank Internet/ Mobile Banking account
• Go to Accounts Tab, Click on Investments
• Search for “Apply for an IPO.”
• Select “LIC” IPO
• Input the Demat Details, select Investor Category and bid details
• Verify your order and accept the Terms and Conditions.
• Confirm the order. Your application will be submitted.

How to check the order Status using ASBA?
 

• Login to your Internet /Mobile Banking.
• Go to accounts Tab, Click on Investments
• Select Invest “Into IPO – ASBA”
• Click on Order Book and Check status of your IPO application.

IDFC FIRST Bank’s ASBA platform is clearly the easiest and most profitable way to apply for the LIC IPO. Click here to apply.

IPO details

Issue Start Date: 04 May 2022

Issue End Date: 09 May 2022

Price band: ₹ 902 - ₹ 949 per share

Discount Details:

Retail and Employee Category: ₹ 45/- per share

Policy Holder Category: ₹ 60/- per share

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.