LIC IPO: You need Demat account to participate; here's how to open it
By Team Newsable | First Published Apr 27, 2022, 11:30 AM ISTA Demat account aids investors in transforming the physical share certificates into electronic ones for easy access.
By launching LIC IPO, the government of India is moving closer to achieving one of its most ambitious divestment goals. The commoner of the country is willing to invest in the same. A Demat account aids investors in transforming the physical share certificates into electronic ones for easy access.
LIC's IPO's main aim is to bring as many bidders as possible. This will be the first step in entering the stock market for many. A Demat account is the first thing the bidders need to place their bids.
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Having a Demat account is most important for investors to invest in stocks. The LIC has encouraged policyholders to open Demat accounts ahead of the IPO to participate in the bidding process.
Here's how to open a Demat account:
1) Select the broker where you wish to open your Demat account.
2) Navigate to the broker's website.
3) Now, start with the Demat account opening procedure.
4) Assign a nominee to your Demat account.
5) Key in the details to fill out the form.
6) Finish the KYC process by giving relevant information.
7) Upload all scanned copies of teh documents, including ID cards, address proof, bank account statements, and income proof.
8) After verification and submitting, make the payment required for trading with the brokerage.
9) The in-person verification with the brokerage house is mandatory.
10) You will receive a unique 16-digit beneficial owner identification number after the request for opening an account is approved.
11) The number will be used to gain online access to your Demat account.
12) After the process, now you can log in to your Demat account online and begin trading.
Also read: LIC IPO: Government likely to cut size from 5% to 3.5%
Also read: LIC IPO: Govt likely to launch in last week of April
Also read: LIC IPO likely to launch in early May, govt to sell over 5% stake
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