LIC Promoter to Sell Up to 6.5% Stake via OFS

The President of India, acting through the Department of Financial Services, Ministry of Finance, has informed about a proposed Offer for Sale (OFS) of up to 31,62,49,885 equity shares of Life Insurance Corporation of India (LIC), representing 2.50% of the total paid-up equity share capital. This forms the Base Offer Size. Additionally, there is an option to sell up to 50,59,99,816 equity shares (4% of total equity) in case of oversubscription. The total offer, if fully subscribed, would amount to 6.50% of LIC's equity. The sale is scheduled for August 4, 2026 (T day) for non-retail investors and August 5, 2026 (T+1 day) for retail investors. The offer aims to achieve minimum public shareholding norms. An additional offer of 50,00,000 equity shares (0.04%) may be made to eligible employees.