In relation to its proposed IPO, the LIC published an advertisement in leading newspapers on Saturday advising policyholders to update their Permanent Account Number (PAN) details and open demat accounts in order to participate in the offering.
“In order to participate in any such public offering policyholders will need to ensure that their PAN details are updated in the corporations records. Further, subscribing to any public offering in India is possible if you have a valid demat account. Accordingly policyholders must ensure that they have a valid demat account in place,” stated the ad.
Now, if you are a policyholder who wants to invest in the proposed LIC IPO, if you do not have a demat account, here is how you can open a demat account. (These are as per an LIC advertisement):
To open a demat account, visit the website of either of the depository participants in which you want to open the demat account. You can choose from these links to find out about registered DPs :
- NSDL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=19
- CDSL: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=18
The securities in the demat account are held by the depositary participant (DP). There are two DPs – National Securities Depository Ltd (NSDL) and the Central Depository Services India Ltd (CDSL). The DP that will hold your demat account will depend on which one your broking firm has tied up with. There is not much of a difference, anyway, between the services of the two DPs.
Provide these documents to the DP to open your demat account:
Documents required to open demat account:
- Recent photograph
- PAN card
- Address Proof
- Cancelled cheque