LIC Share Price Up as Government Sells Stake

• Govt plans to sell up to 6.5% of LIC stake, aiming for Rs 8,800-13,200 Cr.
• SEBI norms mandate 10% public stake; LIC listed in 2022, needs to cut stake by May 2027.
• LIC shares rose on sale news, trading near Rs 915, still below IPO price of Rs 949.

New Delhi: The Indian government is preparing to reduce its stake in Life Insurance Corporation of India (LIC) by up to 6.5 percent, according to reports. The sale, estimated to fetch between Rs 8,800

crore and Rs 13,200 crore, could take place by the end of this year .

Sources told The Economic Times

that the move aims to increase public shareholding in the company, in compliance with regulatory norms.

LIC Shares Show Strong Momentum In Recent Weeks, Gaining 24.5% From 52-Week Low Of ₹715.35 To Trade At ₹890.60

LIC Shares Gain on Sale News

Following the news, LIC’s shares witnessed an uptick on Wednesday. The stock opened at Rs 901 and climbed nearly 2 percent to trade at Rs 915 during the session. Investor sentiment turned positive, as the stake sale may improve market liquidity and diversify LIC’s ownership.