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Govt plans additional LIC stake sale through OFS; talks in early stage
At present, the government owns 96.5 per cent of LIC. In May 2022, it sold a 3.5 per cent stake through an initial public offering (IPO), priced between ₹902 and ₹949 per share. The IPO raised around ₹21,000 crore.
Sources confirmed that the government has approved an additional stake sale in LIC via the offer-for-sale (OFS) route, although discussions are still at an early stage.
'It is up to the disinvestment department to look at the market condition and conclude the stake sale,' a source said.
To meet regulatory norms, the government must reduce its holding by another 6.5 per cent to ensure at least 10 per cent of LIC's shares are publicly held by 16 May 2027.
The size, pricing and timing of the next sale will be decided later, the source added. LIC's current market capitalisation stands at ₹5.85 lakh crore.
As of the latest trade, LIC shares were down 2.27 per cent, priced at ₹924.40 on the BSE.
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