The initial public offering (IPO) of Life Insurance Corporation of India (LIC) was subscribed 1.66 times at the end of the fourth day of bidding on Saturday.
The country’s top lender, State Bank of India (SBI), is motivating customers to open Demat and trading accounts on YONO to participate in the mega LIC IPO.
The IPO opened for public subscription on May 4 and will close on May 9.
SBI has also waived off opening charges and DP AMC for the first year of the Demat and trading account.
“Start your investment journey today! Open your demat and trading account on YONO now with no account opening charges & DP AMC completely waived off for first year. Download YONO now!,” SBI tweeted from its official handle.
Here are the steps for SBI YONO Demat and trading account opening:
1) Open the SBI YONO app
2) Login to SBI YONO app
3) Go to the Investment section under the main menu
4) Click on Open Demat and Trading Account
5) Enter required details
6)Hit ‘confirm’ option
LIC IPO
The country’s largest insurer LIC has set its price band for the Initial Public Offer (IPO) at ₹902 to ₹949 per equity share.
Policyholders and employees are offered discounts in the country’s largest IPO. Policyholders are offered a discount of ₹60 per equity share, while retail investors and employees are offered a discount of ₹45 on each share.
Meanwhile, the Reserve Bank of India (RBI) had directed banks that all ASBA-designated branches will remain open for public on Sunday to facilitate processing of applications for LIC’s IPO.
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