Government plans LIC FPO to meet shareholding norms
after close1 source ↓written by the desknot a recommendation
- of LIC's stake
- 96.5%
- through an IPO
- 3.5%
The government is considering a follow-on public offering (FPO) for Life Insurance Corporation (LIC) in the next financial year to comply with minimum public shareholding norms. Currently, the government holds 96.5% of LIC's stake, having previously sold 3.5% through an IPO in May 2022. The process will depend on market conditions and necessary approvals.
This move may impact market sentiment as the government aims to gradually dilute its stake in LIC, potentially increasing liquidity and public participation in the company.
Not investment advice. For informational purposes only.