President of India exercises Oversubscription Option for 6.50% LIC stake sale

The President of India, acting as the promoter of Life Insurance Corporation of India, has exercised the oversubscription option to sell an additional 4.00% (50,59,99,816 shares) of the Corporation's equity. This is in addition to the initial 2.50% (31,62,49,885 shares) announced earlier, bringing the total stake sale to 6.50% of LIC's paid-up equity share capital. The offer includes a retail category, which will receive 10% of the total offer (8,22,24,971 shares), and up to 50,00,000 shares for eligible employees. Retail investors and employees will benefit from a discount of ₹210 per share, allowing them to bid at ₹373.10 per share. The cut-off price for non-retail investors remains ₹383.10 per share. The sale is being conducted through the stock exchange mechanism on August 4, 2026 (T day for non-retail) and August 5, 2026 (T+1 day for retail, employees, and carry-forward non-retail bids).