India to Sell Stake in LIC, Aims to Raise Billions
The Indian government plans to sell up to a 6.5% stake in Life Insurance Corporation (LIC), the country's largest life insurer, at a 10% discount. This move is expected to raise between $1.3 billion and $3.3 billion (over Rs 30,000 crore).
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India Seeks to Raise at Least $1.3 Billion in LIC Share Sale
The Indian government is looking to sell at least 2.5% stake in Life Insurance Corp. as part of its plan to meet the minimum public float rules.
By Vikram Kumar and Shruti Srivastava
Read full article →India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount
Indian government plans to raise up to $3.3 billion by selling its stake in the country's top life insurance company.
Read full article →Government to sell up to 6.5% stake in LIC, may mop up Rs 31k cr
The government is selling up to 6.5% of LIC shares through an offer for sale. This divestment aims to meet minimum public shareholding norms ahead of schedule. The offer begins Tuesday and closes Wednesday with a base price of Rs 382. Successful sale will raise approximately Rs 31,400 crore for the government. This move contributes significantly to the government's annual disinvestment target.
By TNN
Read full article →Government To Sell 6.5% Stake In LIC For Over Rs 30,000 Crore
If fully subscribed, the sale of over 82.22 crore shares or a 6.5 per cent stake at the given floor price will fetch about Rs 31,000 crore to the disinvestment kitty.
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