LIC IPO Ki Patshala: Can investors make multiple applications on 1 PAN card? Zee Business Managing Editor has the answer!

LIC IPO Ki Patshala: The much awaited Initial Public Offering (IPO) of the state-run insurer Life Insurance Corporation of India (LIC) open tomorrow, Zee Business makes an endeavour to resolve your queries. One such query is whether an individual investor is allowed to make applications in two categories on 1 PAN card? Zee Business’ Managing Editor Anil Singhvi explains it with this short answer. #LICIPOWithZEE #LICIPO

The question raised by viewers before Zee Business was if application under retail investor category and policyholder category can be made on a single PAN card?

The answer to this is yes, says the Managing Editor.

Usually in IPOs, an investor who is applying under the retail investor category is not allowed to apply in other categories like HNI, Singhvi said adding that only one category is permitted on a PAN card.

But in LIC IPO, investors can apply simultaneously under two categories on a single PAN card, the Market Guru said.

If you are applying in retail category, you can take a discount of Rs 45. If you are also an LIC policyholder, you can make one more application under the policyholder category using the same PAN card and avail a discount of Rs 60 per share.

If you are an employee of LIC and want to make one more application under the employee category, you can do so as well, he further said.

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But one must keep this in mind that multiple applications can be made on 1 PAN card provided, the categories are retail, policyholder and employee.

One must not apply in retail category and HNI category, simultaneously, the Market Guru warned. In this case, old rules will apply.       

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About LIC 

Incorporated on September 1, 1956, Life Insurance Corporation of India Ltd (LIC), was formed by merging and nationalizing 245 private life insurance companies in India. LIC has been providing life insurance in India for 65 years and is the largest life insurer in India. The brand LIC is recognised as the 3rd strongest and 10th most valuable global insurance brand according to Brand Finance. In addition to Indian operations, LIC has global presence with branches in Fiji, Mauritius, UK, etc.