Govt to sell up to 6.5% in LIC at ₹382/share; to add ₹31k crore to disinvestment kitty

The Indian government plans to sell up to a 6.5% stake in Life Insurance Corporation (LIC) through an Offer for Sale (OFS) at ₹382 per share, aiming to raise approximately ₹31,000 crore for its disinvestment kitty. This stake sale, managed by DIPAM, will help LIC meet the minimum public shareholding requirement mandated by SEBI by May 2027. The government currently holds 96.5% in LIC, having previously sold 3.5% via an IPO in 2022.