Economy
Government Launches LIC Offer for Sale to Raise ₹31,000 Crore
Upstox1h
THE BRIEF
1
The government launched a two-day Offer for Sale (OFS) on Tuesday to divest up to a 6.5% stake in LIC at a floor price of ₹382 per share.
2
The issue is expected to fetch approximately ₹31,000 crore if fully subscribed, with non-retail investors bidding on August 4 and retail investors participating on August 5.
3
This stake sale aims to help LIC meet the SEBI-mandated 10% minimum public shareholding requirement by the May 16, 2027, deadline.