How to Invest in LIC IPO via Upstox in Five Easy Steps

LIC IPO: Many Indian startups and companies have been affected by the Russia-Ukraine crisis, which has, in turn, led to massive volatility in the stock market. The IPO plans, too, faced headwinds due to the global situation. However, the much-awaited initial public offering (IPO) of the Life Insurance Corporation (LIC) is likely to open on May 4 and close on May 9, 2022. For anchor investors, the IPO opens on May 2, 2022.

The LIC IPO issue size has been reduced to ₹20,557 crores, down from an expected ₹60,000. Among the main reasons behind cutting down the size of LIC's IPO were the Ukraine-Russia crisis, the withdrawal of foreign portfolio investors (FPIs) from the Indian market, and a global increase in inflation and interest rates.

Also Read: RBI Hikes Repo rate By 40 Basis Points

According to the revised DRHP, SEBI has approved a 3.5 per cent stake sale instead of the 5 per cent that was mentioned in the previous draft. The LIC IPO is expected to contribute a major chunk of the budgeted disinvestment proceeds in the current fiscal year.

Investment platforms like Upstox are offering the option to invest in IPOs through their platform. Upstox is one of India's largest investment platforms, with over 9.5 million customers. It was founded to make financial investment simple, equitable, and accessible for all Indian investors.

Here Are The Five Simple Steps To Investing In An IPO Via Upstox:

Step 1: Log in to the Upstox application or website with your credentials.

Step 2: Choose the IPO in which you want to invest and complete the application form.

Step 3: Make a total of three bids within the available price range.

Step 4: Approve your application.

Step 5: Accept the UPI mandate and block funds using your UPI app on your mobile device.

Users can also apply for IPOs via WhatsApp. This is a first-of-its-kind feature, and here is a step-by-step guide:

Step 1: Say "Hi" to this WhatsApp number (+91 93212 61102), which deals exclusively with IPO applications, and click "IPO".

Step 2: Confirm your number by selecting "Yes, proceed," or if you wish to change your number, click "No, change no."

Step 3: Confirm your phone number by entering the 6-digit OTP that was sent to you.

Step 4: After verification, you will receive details of the latest IPOs. Select the IPO that you want to pre-apply or apply to from the list.

Step 5: Now, to proceed, select "Apply now" and if you wish to see other IPOs, select "View other IPO"

Step 6: You’ll now be asked to enter the price at which you want to place your bid.

Step 7: From the list, choose how many lots you want to apply for, ranging from 1 to 9. In case you wish to select more than 9 lots, click on "more" and mention the maximum number of lots from the given range.

Step 8: You will now see a summary of your bid information. To move ahead, select "Proceed", or if you wish to change something, select "Change bid".

Step 9: Next, you will need to enter your UPI ID.

Step 10: Select "Accept & Proceed" to submit your IPO application or "Decline" if you change your mind and do not wish to apply for the IPO.

Step 11: Once all of these steps have been completed, you can check the status of your application from the WhatsApp chat at any time and from any location.

You can pre-register for the LIC IPO on Upstox at this link.