Life Insurance Corporation of India (LIC) share price declined over a percent in early trade on Thursday after the company's offer for sale (OFS) received muted demand from retail investors, lagging institutional interest. LIC share price fell as much as 1.18% to Rs 386.85 apiece on the BSE.
LIC OFS remained undersubscribed in the Retail category. The government offloaded a total of 82.22 crore equity shares, equivalent to a 6.5% stake in LIC.
The OFS of the state-run insurance behemoth consisted of a base offer of 31.62 crore equity shares and an additional 50.59 crore shares under the oversubscription option. LIC OFS floor price was fixed at Rs 382 per share.
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The offer was open for non-retail investors on August 4, while for retail investors and non-retail investors on August 5.
LIC OFS Subscription Status
The retail category in the LIC OFS comprised the sale of 8.22 crore shares and received bids for 5.71 crore shares, translating into a subscription of 69.43%. Under the OFS, retail investors were allotted shares at Rs 373.10 per share after a discount of Rs 10 to the non-retail clearing price.
The two-day OFS received 1.57 times subscription in the non-retail segment. The non-retail portion comprised the sale of 74 crore shares, and received bids for 129.48 crore shares.
The clearing price for non-retail investors was fixed at Rs 383.10 per share, above the floor price of Rs 382.
“Offer for Sale in the Life Insurance Corporation of India (LIC) closed with an overwhelming response from both retail and institutional investors. The issue was over-subscribed on both days and the Government exercised its entire green shoe option,” the Secretary of Department of Investment and Public Asset Management (DIPAM) said in a post on X.
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With this the public ownership of LIC has increased to 10% and it has achieved this critical milestone ahead of schedule. A total of 82,23,33,558 shares have been allocated for an amount of Rs 31,552 crore, making it India's largest public offering ever, it added.
Meanwhile, LIC will also announce its June quarter earnings on Thursday. Here's what to expect from LIC Q1 results today.
LIC Q1 Results 2026 Preview
Kotak Institutional Equities expects LIC to report strong 44% year-on-year (YoY) VNB growth in the first quarter of FY27. APE growth was 28% and 10% in April and May 2026, and the brokerage firm estimates 14% for Q1FY27.
It estimates a massive 400 bps expansion in margins, reflecting shift to high-margin non-par business.
At 10:30 AM, LIC share price was trading 0.73% lower at Rs 388.65 apiece on the BSE.
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