LIC IPO: SBI Gave 5 Tips To Ensure Your Application Does Not Get Rejected Via UPI

On Saturday, bidding in the LIC IPO is still going strong. On weekends, bank branches are also available to take applications. However, due to tremendous demand among investors, your application for this big IPO may be refused. You can, however, prevent this from happening!

On Saturday, SBI published some guidelines for reducing the odds of your LIC IPO application being denied via its Twitter account.

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When applying for a LIC IPO using UPI, an investor should consider five aspects, according to SBI. These are they:

  • Check to see if your bank account has enough money in it.
  • Make sure you’ve provided the right UPI ID and PIN.
  • Make sure the PAN on your IPO application matches the PAN on your bank account.
  • Approve using your UPI app and an IPO mandate request.
  • Look for IPO-related SMSs on your phone.

On Saturday and Sunday, ASBA (Applications Supported by Blocked Amount) approved bank offices are available to take applications for the LIC IPO. The initial public offering will end on Monday.

The LIC initial public offering (IPO) began on May 4 and will be offered for subscription until May 9. The approximately 21,000 crore initial public offering is the biggest ever.

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The fourth day of the IPO was Saturday. According to NSE data, the public offer attracted total bids of 25,76,76,330 equity shares vs the offered size of 16,20,78,067 equity shares, resulting in a 1.59-fold oversubscription.

Policyholders and staff were in high demand. While retail investors also responded positively. Today, the component for high-net-worth investors (HNIs) was completely subscribed.

The share earmarked for policyholders and workers was oversubscribed by 4.46 times and 3.46 times on the fourth day of the IPO, respectively. The regular investors component was 1.39 times oversubscribed, while the Non-Institutional Investors (called HNIs) portion was 1.05 times oversubscribed. However, the share earmarked for Qualified Institutional Buyers (QIBs) received just 67 percent of the total subscriptions.

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The IPO’s pricing range is 902 to 949 dollars per equity share. LIC policyholders receive a 60 percent discount on equity shares, while retail investors receive a 45 percent discount.

On May 17, LIC is likely to be listed.

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