The record
Written from the 1 report below. Nothing here is unsourced.
- The Indian government is selling over 82.22 crore shares, a 6.5% stake, in Life Insurance Corporation of India at ₹382 per share through an Offer for Sale on Tuesday and Wednesday.
- This price is about a 10% discount to LIC's Monday closing price of ₹424.35.
- The government currently holds 96.5% of LIC, having sold a 3.5% stake in 2022 to raise ₹21,000 crore.
- SEBI rules require LIC to have at least 10% public shareholding by May 16, 2027, which this sale helps meet.
What to watch next
- Whether the two-day Offer for Sale on Tuesday and Wednesday is fully subscribed at the ₹382 price
- How much revenue the government raises from the 6.5% stake sale, compared with the ₹21,000 crore from the 2022 sale
- LIC's progress toward SEBI's requirement of at least 10% public shareholding by May 16, 2027
Coverage1
1 report
Indian-language1
All filed from India
Named India · Life Insurance Corporation of India · Government of India · Securities and Exchange Board of India
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.