LIC offer for sale

LIC OFS opens tomorrow as govt looks to sell up to 6.5% stake. Check details

The government will open an offer for sale in Life Insurance Corp (LIC) on Tuesday for non-retail investors, as it moves to reduce its stake in the country's largest insurer and meet minimum public shareholding milestones ahead of schedule. Retail investors will be able to bid on Wednesday.The government plans to sell 2.5% equity in LIC, with an additional 4% available as a green shoe option. If fully subscribed, the offer could lead to a total stake sale of up to 6.5%.The floor price for the OFS has been fixed at Rs 382 per share. The sale is part of the government’s plan to increase public s

Govt Launches 6.5% LIC OFS At ₹382/Share; Stake Sale May Fetch ₹31,000 Crore

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

If fully subscribed, the sale of over 82.22 crore shares or a 6.5% stake at the given floor price will fetch about ₹31,000 crore to the disinvestment kitty

Institutional investors over-subscribe LIC OFS, govt opts for green-shoe option

The government of India has decided to exercise the green-shoe option in the share sale offer of Life Insurance Corporation (LIC) after institutional investors over-subscribed the portion reserved for non-retail investors by putting in bids worth Rs 36,400 crore.Four years after the initial public offering (IPO), which had fetched Rs 21,000 crore, the government launched LIC's offer for sale (OFS), looking to sell up to 6.5% stake. This in size compares with the upcoming mega IPO offerings of the NSE and Reliance Jio Platforms.Through the two-day OFS, the government is selling up to 6.5 per ce