LIC IPO coming: Apply online NOW through Paytm Money’s Pre-Open IPO feature- Check steps

tech.hindustantimes.com:

The much-awaited IPO of this year — India’s largest insurer LIC’s public market debut is finally here. Investors eagerly waiting to subscribe to the IPO can apply for it through Paytm Money. One97 Communications Limited (OCL) that owns the brand Paytm on Thursday announced that its wholly-owned subsidiary Paytm Money Limited (PML) has launched the pre-open IPO feature for the upcoming LIC IPO. The company is also offering free demat accounts for new investors. Investors can even apply for the LIC IPO now — even before the IPO opens for subscription, using Paytm Money’s Pre-Open IPO application feature.

The issue will be open to subscription for the general public from May 4th to 9th. The 5-day subscription period is unique as this period tends to be 3 days for most IPOs. The price band for the IPO is set at Rs. 902-949. The government is selling 3.5 percent of its stake in LIC for Rs. 21,000 crore, valuing the insurance giant at Rs. 6 lakh crore.

While the IPO will open for subscription on May 4 and the official application timings are 10am to 5pm, Paytm Money has enabled the pre-open feature for the LIC IPO. With this, users can subscribe to this IPO right away. The pre-open application will be recorded on Paytm Money’s system and sent to the exchange for processing whenever the IPO opens. Follow the below mentioned steps to apply right now:

1. Go to the “Invest in IPO” option on Paytm Money, you will be able to see the IPO with a Pre-Open tab.

2. Select LIC IPO.

3. In the respective IPO screen, you will be able to see the “Apply Now” button with the disclaimer that an application submitted in the pre-open stage can be canceled or modified only when it is sent to exchange when IPO opens, select apply now.

4. The Apply for IPO