August 5: The Government of India has successfully raised ₹31,552 crore through its Offer for Sale (OFS) in Life Insurance Corporation of India (LIC), making it the largest public offering in India’s history, the Department of Investment and Public Asset Management (DIPAM) announced on Wednesday.
The two-day OFS witnessed strong participation from institutional and retail investors, prompting the government to exercise its entire green shoe option, significantly increasing the offer size beyond the base issue.
The stake sale is a key milestone in the government’s disinvestment programme and helps LIC move closer to meeting SEBI’s minimum public shareholding (MPS) requirement of 10% ahead of the May 2027 deadline.
The OFS was launched at a floor price of ₹382 per share, with the government offering a base stake sale along with a green shoe option, allowing it to increase the issue size in response to robust investor demand.
The successful fundraising strengthens the Centre’s FY27 disinvestment efforts while broadening LIC’s public shareholding, following the insurer’s landmark stock market listing in 2022.
