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The government raised Rs 31,552 crore through LIC’s record Offer for Sale (OFS), selling a 6.5% stake after exercising the greenshoe option. The issue was oversubscribed, driven by strong retail and institutional demand. The stake sale helped LIC achieve the 10% public shareholding norm ahead of Sebi’s May 2027 deadline, while shares declined over 1% after the offer.
LIC shares fall after India’s largest OFS closes with oversubscription on both days
Impact Score
Market Sentiment
→NeutralPrimary Sectors
The government raised Rs 31,552 crore through LIC’s record Offer for Sale (OFS), selling a 6.5% stake after exercising the greenshoe option. The issue was oversubscribed, driven by strong retail and institutional demand. The stake sale helped LIC achieve the 10% public shareholding norm ahead of Sebi’s May 2027 deadline, while shares declined over 1% after the offer.
Key Highlights
The government raised Rs 31,552 crore through LIC’s record Offer for Sale (OFS), selling a 6.5% stake after exercising the greenshoe option.
The issue was oversubscribed, driven by strong retail and institutional demand.
The stake sale helped LIC achieve the 10% public shareholding norm ahead of Sebi’s May 2027 deadline, while shares declined over 1% after the offer..
Source
Economic Times
Published
2h ago
Impact Score
70 / 100
Category
Indian Markets
Moderate near-term volatility expected while markets assess implications for Indian Markets.
What this means
No linked events found.