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LIC Shares Drop 7% as Government Launches OFS to Sell Up to 6.5% Stake

Life Insurance Corporation of India (LIC) logoLife Insurance Corporation of India (LIC)
Sig3.28Sen-1.68Env0.00Soc0.00Gov+1.03

Shares of Life Insurance Corporation of India (LIC) fell sharply after the government launched an offer for sale to pare its stake. The base offer is 2.5% with a greenshoe option for an additional 4%, potentially selling up to 6.5% and raising up to about Rs 31,000 crore. The OFS floor is Rs 382 per share, an 11% discount, and would reduce the government’s holding to 90%, meeting SEBI’s requirement by May 2027.

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