Government Launches LIC Offer for Sale to Raise ₹31,000 Crore

The Indian government announced an Offer for Sale (OFS) for a 6.5% stake in LIC, priced at ₹382 per share, with non-retail bidding opening on August 4.

The sale is expected to generate over ₹31,000 crore, helping the government meet its ambitious disinvestment targets for the current fiscal year.

Institutional investors have shown strong interest in the offering, which aims to reduce the government's majority holding in the insurance giant.