How do I apply for LIC IPO under employee quota

Hello,

My father works in LIC. I want to apply for IPO using his demat account since there is an employee quota (to increase the chance of allotment).

Where is the option to apply under employee quota? I don’t see any such option.

Also how does SEBI/zerodha verifies if the person is indeed an employee?

Also is it possible to fund broker account from my personal bank account and receive shares directly in my personal demat as the son of employee to limit the hassle for my father since he doesn’t even have a demat account as of now?

1 Like

I wouldn’t worry so much about “chances of allotment” in LIC. Its a huge IPO.
I think chances of allotment in retail are going to be very high

Its a huge IPO.

So is the excitement. I am pretty worried tbh. I don’t want to leave it to chance ideally if possible.

1 Like

Historically huge IPOs in India have not made money. Don’t go overboard in euphoria.

2 Likes

to put it simply… Insurance meri expertise se bahar hai

it’s heavy finance stuff, I can’t understand the business, lacking conviction due to it

Please stop spamming with off-topic posts.

2 Likes

The option to apply under employee quota will be available on Console. The IPO opens for subscription on 4th May.

The validation is done by the RTA. LIC would’ve provided the RTA to the issue with necessary employees details, who will validate applications based on PAN during the allotment and will reject any invalid applications.

Application form third-party account will likely get rejected. Would suggest you open an account on your father’s name and apply through it. The account opening process is completely online, you can check it out here: How do I open an account online?

2 Likes

Thank you for very much.

Is the verification instant, or same-day, so I can re-apply in case of any issue? Or do I have to wait until the IPO is closed to know about the successful verification?

1 Like

sorry stupid!
I’ll note that

It isn’t instead. As explained above, the RTA will check for details during the allotment.