Govt to sell up to 6.5% in LIC at ₹382/share; to add ₹31k crore to disinvestment kitty
The government will sell up to a 6.5% stake in Life Insurance Corporation of India (LIC) at a floor price of ₹382 per share, starting a two-day offer for sale on Tuesday. If fully subscribed, the sale of over 82.22 crore shares is expected to generate approximately ₹31,000 crore for the disinvestment fund. This move is part of the government's ongoing efforts to bolster its disinvestment program.