Government will bring IPO again in LIC, disinvestment department will work on the nuances of transactions

LIC IPO News: The government is working on selling more stake in the Public Sector Insurance Company Indian Life Insurance Corporation of India (LIC). The disinvestment department will work on the nuances of this transaction. Sources gave this information. The government currently holds 96.5 percent stake in LIC. It sold 3.5 percent stake in May 2022 at a price range of Rs 902-949 per share through the initial public issue (IPO). The government received about 21000 crores from this stock sales.
Further shares approved for sale in LIC: Sources said that the government has given its approval for further stock sales in LIC through the sale offer (OFS) route and discussion is still in the initial stage. A source said that looking at the market status and finalizing the stake sales is dependent on the disinvestment department.
Current market capitalization of LIC 5.85 lakh crores: The government needs to sell 6.5 percent and stake in LIC to meet the need for compulsory 10 percent public shareholding by 16 May 2027. The source said that the share of sales quantity, price and time will be made in the coming time. The current market capitalization of LIC is Rs 5.85 lakh crore.
Edited by: Chetan Gour (Language)