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Asia

Government unveils offer for sale to dilute LIC stake

Markets-Economic Times · 2h ago · 🇮🇳 India

Government unveils offer for sale to dilute LIC stake

The Centre has announced an Offer for Sale in Life Insurance Corporation of India. This issue will open for non-retail investors on Tuesday and retail investors on Wednesday. The divestment includes a base offer of 2.5% with an additional 4% greenshoe option. The floor price for the Offer for Sale is fixed at ₹382 per share. This move aids the insurer in meeting minimum public shareholding norms ahead of schedule.

Read the full story at Markets-Economic Times →

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