LIC promoter divests 6.5% stake for ₹31,552 crore
pre-market1 source ↓written by the desknot a recommendation
- of Life Insurance
- 82,23,33,558 shares
- raising
- ₹31,552.34 crore
- promoter's stake
- 96.5% to 90%
The President of India, through the DFS, sold 82,23,33,558 shares of Life Insurance Corporation of India via an Offer for Sale (OFS), raising ₹31,552.34 crore. This transaction reduces the promoter's stake from 96.5% to 90%, marking a key liquidity event for investors. The sale occurred over two days on the NSE and BSE, aligning with the government's disinvestment strategy.
Not investment advice. For informational purposes only.