The non-retail portion of Life Insurance Corporation of India's offer for sale, including the greenshoe option has been subscribed 0.16 times so far on Tuesday.
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.
Total demand stood at 10.22 crore shares, comprising 8.65 crore confirmed bids and 1.57 crore shares yet to be confirmed. A total of 345 bids were received across the price band, according to subscription data on BSE.
At Rs 382, investors bid for 10.09 crore shares, accounting for nearly 98.7% of the total demand. Of these, 8.52 crore shares were confirmed, while 1.57 crore shares were awaiting confirmation.
Above the floor price, demand fell sharply, with only 2,000 equity shares being sought for at Rs 400.
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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