LIC Shares Slip Over 3% As Centre Likely To Offload Stake - Key Details
LIC down nearly 2% after sources say govt could look at selling 2.5-3% in LIC in the first tranche of divestment.
India's largest insurance company LIC shares in trade on Wednesday fell as much as 3.43 per cent after news circulated of centre looking at offloading 2.5 per cent to 3 per cent stake in the first tranche of disinvestment.
The central administration is expected to initiate roadshows in a periodf of two weeks before its disinvestment move in the country's largest institutional investor, as per media reports.
Meanwhile, the government has appointed IDBI Capital, and Motilal Oswal for the purpose of LIC offer-for-sale (OFS).
With offloading its aforementioned stake in LIC, the government could raise Rs 14,000 to Rs 17,000 crore via its first tranche of disinvestment. However, this won’t have an affect on government’s majority ownership and management control.
The government intent to utlise the oppurtunity that market conditions raise money for itself, as per media reports.
As of 1:52 pm on Wednesday, the shares of LIC were trading 3.01 per cent lower at Rs 888.75 apiece.
(This Is A Developing Story)
Published By : Nitin Waghela
Published On: 13 August 2025 at 14:09 IST