Life Insurance Corporation of India has reduced its stake in Steel Authority of India Limited by 2.001% through market sales, taking its holding below the 5% mark.
According to a regulatory disclosure dated September 2, LIC sold 8,26,32,513 SAIL shares between April 28 and September 1, 2026.
Following the transactions, LIC's holding in the state-owned steelmaker fell to 19,10,32,968 shares, or 4.625% of SAIL's total share capital and voting rights.
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LIC Reduces SAIL Holding Below 5%
Before the latest sale, LIC held 27,36,65,481 SAIL shares. It represented a 6.625% stake in the company.
The sale of more than 8.26 crore shares reduced LIC's holding by 2.001%. The insurer now holds 4.625% in SAIL.
The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing classifies the transaction as a market sale.
SAIL's total equity share capital remained unchanged at Rs 41,305.25 crore during the transaction period.
LIC has also clarified in the filing that it does not belong to SAIL's promoter or promoter group.
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LIC Has Been Cutting Its SAIL Exposure
The latest transaction follows another major reduction in LIC's SAIL holding earlier this year.
In April 2026, LIC had disclosed the sale of 8.51 crore SAIL shares, reducing its stake from 8.687% to 6.626%.
With the latest sale, LIC has now moved below the 5% shareholding level in SAIL.
The development comes as SAIL continues to remain a major public sector steel producer. Its shares have gained nearly 59% over the past year.
The latest filing does not disclose the price at which LIC sold the shares or the total value of the transactions.
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