Government unveils offer for sale to dilute LIC stake
· economictimes.indiatimes.com
The Centre has announced an Offer for Sale in Life Insurance Corporation of India. This issue will open for non-retail investors on Tuesday and retail investors on Wednesday. The divestment includes a base offer of 2.5% with an additional 4% greenshoe option. The floor price for the Offer for Sale is fixed at ₹382 per share. This move aids the insurer in meeting minimum public shareholding norms ahead of schedule.
The floor price for the OFS has been fixed at ₹382 per share, a discount of about 10% to LIC's Monday's closing price of ₹424.40 on NSE.
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