Brief by Shorts91 Newsdesk / 08:44am on 06 Aug 2026,Thursday India
The Indian government quietly completed a Rs 31,500-crore sale of a 6.5% stake in Life Insurance Corporation of India (LIC), making it the country's biggest secondary share sale through the stock exchange. According to Bloomberg, even some investment bankers advising the deal were informed only hours before its launch to prevent traders from influencing LIC's share price. The government initially offered a 2.5% stake before increasing it to 6.5% after strong institutional demand. The sale raises LIC's public shareholding to 10%, helping the insurer meet SEBI's minimum public shareholding requirement well before the May 2027 deadline. (PC: India Today)
