The non-retail portion of Life Insurance Corporation of India's offer for sale, excluding the greenshoe option has been subscribed 3.32 times so far on Tuesday.
Demand remained concentrated at the floor price of Rs 382, which accounted for nearly 80% of all bids, investors also placed sizeable orders at Rs 385 and select price points between Rs 382.05 and Rs 383.10, indicating willingness among some institutional bidders to pay a modest premium.
The centre had announced that it will be divesting up to 6.5% stake in LIC via an OFS for investors. Bidding for the non-retail portion began today and for retail investors the bidding will open from Wednesday onwards.
ALSO READ: LIC OFS: Govt To Divest Up To 6.5% Stake In State-Run Insurer; Floor Price Fixed
LIC OFS
The centre announced that it will be divesting up to 6.5% stake in in Life Insurance Corporation of India (LIC) via an offer for sale (OFS) for investors, according to an 'X' post from the Secretary, Department of Investment and Public Asset Management on Monday.
The government offered to disinvest 2.5% equity with an additional 4% as a green shoe option, as per the post. The floor price has been fixed as Rs 382 per share. It stated that this divestment will help it achieve minimum public shareholding (MPS) milestones ahead of schedule.
As of June 2026 public shareholding data from the Bombay Stock Exchange (BSE), promoters and promoter groups hold 96.5% of LIC's shares while public shareholders possess 3.5% of the firm's shares. The centre has relaxed its previous target for the insurance company with it now having to offload 10% of its stake to public by the deadline of May 16, 2027.
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