Government of India offers 6.5% stake in LIC via OFS at ₹382 floor price

Key facts

• The Government of India is selling up to a 6.5% stake in Life Insurance Corporation of India (LIC) through an Offer for Sale (OFS) at a floor price of ₹382 per share.
• Retail investors will receive a discount of ₹15 per share on the final discovered price.
• The OFS includes a base issue of 12.65 crore shares (2% equity) and a greenshoe option of 28.46 crore shares (4.5%), totalling up to 41.11 crore shares.
• Retail investors can bid on August 5, 2026, between 9:15 am and 3:30 pm; the non-retail portion was subscribed 1.66 times on August 4.
• At least 10% of the offer is reserved for retail investors, and 25% for mutual funds and insurance companies.
• The government held a 96.5% stake in LIC as of June 30, 2026; the OFS aims to raise public shareholding to 10% to meet Sebi's minimum public shareholding norms by May 2027.
• The floor price of ₹382 is an 11% discount to LIC's previous closing price of ₹428.50 on the NSE.