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LIC IPO Update: Check Out How You Can Invest in LIC IPO Using SBI YONO App

SBI has now introduced investment options through its online platform. Users can now set up their Demat and Trading accounts to start investing.

Kritika Madhukar
SBI's Yono App
SBI's Yono App

The Life Insurance Corporation (LIC) (IPO) is set to begin on May 4, 2022, and will be open for subscription until May 9, 2022. On May 2, 2022, the IPO was opened for anchor investors. Despite the smaller size, the LIC IPO will still be the largest in the country's history.

The LIC IPO will be worth roughly Rs 21,000 crore. The central government's 3.5 percent share in the company would be sold in the IPO for up to Rs 20,557 crore.

A total of 22.10 crore equity shares are expected to be offered in the offering. The LIC IPO price range is Rs 902 to Rs 949 per equity share.

Under the policyholder category, the government has set aside 10% for LIC policyholders. To apply for a LIC IPO, policyholders must first link their PAN to their LIC plans and then have a legitimate Demat Account in order to subscribe to an IPO.

The YONO App of SBI

Last month SBI tweeted to inform consumers about the YONO app. They stated in the tweet that YONO was available for download and a Demat and Trading account would be required to set up the YONO app. They also mentioned that the DP AMC would be waived off for the consumers in the first year of investment.

Setting up the Demat and Trading Account on YONO App

Step 1- Download the SBI YONO app on your Smartphone.

Step 2- Log in to the YONO SBI app by providing your credentials.

Step 3- Upon logging in, you will see the main menu and select the investment section from it.

Step 4- After selecting, click on the Demat and Trading Account

Step 5- Fill in the required information and click on confirm. 

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