LIC Promoter (President of India) Sells 1.22 Cr Shares

Life Insurance Corporation of India (LIC) has filed a disclosure under SEBI's Insider Trading Regulations. The President of India, acting through the Ministry of Finance and being the promoter of LIC, has sold 1,22,07,245 equity shares. This sale is part of a larger offer for sale (OFS) initiated by the promoter, which included an initial base offer size and an oversubscription option, as well as an employee offer. The disclosure is made in Form C as per Regulation 7(2)(a) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.