Economy
Government Launches LIC Share Sale to Raise ₹31,000 Crore
CNBC1h
THE BRIEF
1
The Indian government has initiated an Offer for Sale (OFS) to divest a 6.5% stake in the Life Insurance Corporation (LIC) of India, aiming to raise approximately ₹31,000 crore.
2
The shares are being offered at a 10% discount, with the floor price set at ₹382 per share, as part of the government's broader disinvestment strategy for the 2026-27 fiscal year.
3
Market analysts are closely monitoring the subscription levels, as this sale represents one of the largest equity offerings in the Indian insurance sector this year.