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Government to sell LIC minority stake; DIPAM to finalise plan; 96.5% holding remains after 2022 IPO

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NEW DELHI: The government is planning another round of stake sale in Life Insurance Corporation (LIC), and the Department of Investment and Public Asset Management (DIPAM) set to finalise the details. The government has given in-principle approval for selling more LIC shares through the Offer for Sale (OFS) route, sources told PTI. However, discussions are still at an early stage.“It is up to the disinvestment department to look at the market condition and conclude the stake sale,” the source added.Currently, the government holds a 96.5% stake in LIC, after offloading 3.5% in its May 2022 IPO, which raised around Rs 21,000 crore at a price band of Rs 902–949 per share.To comply with public shareholding requirements, the government must sell an additional 6.5% stake by May 16, 2027, to achieve the mandatory 10% public ownership threshold.The source further indicated that the decisions regarding sale volume, pricing, and timing would be determined subsequently.LIC’s market capitalisation currently stands at Rs 5.85 lakh crore. On the BSE, LIC shares were trading at Rs 924.40, showing a decline of 2.27% from the previous closing price.

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