Indian government approves OFS in insurance giant LIC
Arunish Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM), in an interview with CNBC-TV18, confirmed the development.
The move is part of the government's broader disinvestment strategy for the fiscal year 2025-26, aimed at increasing retail participation and unlocking value in the public sector insurance giant, the report said.
Chawla was quoted by CNBC as saying: 'Yes, we would. We would also share it with retail shareholders and policyholders. We want LIC to be part of every household in the country.'
Currently, the government's stake in LIC stands at 96.5%, with the public holding the remaining 3.5%. With the organisation's market capitalisation at Rs5.9trn ($68.9bn), the sale of a 1% stake could potentially yield around Rs60bn for the treasury.
Earlier reports by CNBC-TV18 had identified LIC as a key candidate for stake sale among public sector undertakings (PSUs) this year.
Details concerning the exact size, timing, and structure of the LIC stake sale are anticipated to be made public soon.
LIC's initial public offering took place in 2022, marking its transition to a public-listed entity.
In March 2025, a report by Economic Times suggested that, LIC was in discussions to acquire a significant stake in ManipalCigna Health Insurance, which would mark its entry into the health insurance market.
However, the specifics of this potential acquisition have not been finalised.
"Indian government approves OFS in insurance giant LIC" was originally created and published by Life Insurance International, a GlobalData owned brand.
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