LIC IPO: How to open a Demat account on SBI Yono app to invest in the issue
PremiumLIC IPO: Customers can open Demat and trading accounts with SBI Securities using the SBI Yono app
To invest in an initial public offering (IPO). investors need a Demat account. So, all of you, who are looking to invest in mega IPO of LIC need to have a Demat and trading account. Customers can open Demat and trading accounts with SBI Securities using the SBI Yono app.
“Open your demat and trading account on YONO now with no account opening charges & DP AMC completely waived off for first year. To apply, please login and go to investments section," SBI tweeted from its official handle.
A Demat account is just like your bank account. The only difference is in your bank account you keep money whereas, in the Demat account, you keep electronic copies of shares are kept.
How to apply for SBI Demat account from theYONO app
- Login on the YONO SBI app using credentials
- Under the main menu, go to the Investment section
- Click on Open Demat & Trading Account
- Enter all the required information
- Now, click on ‘Confirm’.
The LIC public issue would be the biggest IPO in the history of the Indian stock market. Once listed, LIC's market valuation would be comparable to top companies like RIL and TCS. Although the DRHP does not disclose the market valuation of LIC, as per industry standards it would be about three times the embedded value of around ₹16 lakh crore.
So far, the amount mobilised from theIPO of Paytm in 2021 was the largest ever at ₹18,300 crore, followed by Coal India (2010) at nearly ₹15,500 crore and Reliance Power (2008) at ₹11,700 crore.
Meanwhile, the government on Saturday permitted up to 20 per cent foreign direct investment (FDI) under automatic route in IPO-bound LIC. The decision in this regard was taken by the Union Cabinet, chaired by Prime Minister Narendra Modi.
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