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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.
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.
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.
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.
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.
The ASBA facility does not attract any charge. You do not have to pay anything even if you receive the shares.
Applying for the IPO of LIC is easier with ASBA. Here is how you can do it with IDFC FIRST Bank:
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.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.