Govt raises Rs 31,552 crore from LIC OFS in India's largest public offering

The government raised Rs 31,552 crore from its stake sale in Life Insurance Corporation (LIC), marking India's largest public offering ever, according to DIPAM. The offer for sale, launched at a floor price of Rs 382 per share, increased public ownership in LIC to 10 percent, meeting Sebi's minimum public shareholding norm about nine months ahead of the May 2027 deadline. With this, the year's disinvestment tally nears Rs 59,000 crore against a budgeted Rs 80,000 crore.