LIC Stake Sale: Govt Eyes Another 6.5% by May 2027
The government is planning a significant follow-up stake sale in Life Insurance Corporation of India (LIC). This move aims to increase public shareholding in the insurance giant.
The additional divestment is projected to be around 6.5% of LIC’s equity. The target completion date for this sale is set for May 2027.
While the precise method remains under consideration, an Offer For Sale (OFS) is currently the most likely route. The Department of Investment and Public Asset Management (DIPAM) is finalising the details.
This further divestment is crucial for LIC to meet the minimum public shareholding norms mandated by the Securities and Exchange Board of India (SEBI).
The success of this sale will have a considerable impact on the government’s disinvestment targets and the overall financial market sentiment. It will also influence investor confidence in the PSU sector.
