NDTV·1 min read·medium
Government To Sell 6.5% Stake In LIC For Over Rs 30,000 Crore
✦AI Summary
The Indian government plans to sell a 6.5% stake in the Life Insurance Corporation (LIC) to raise approximately Rs 31,000 crore. This disinvestment move is part of the government's broader strategy to manage its fiscal assets.
If fully subscribed, the sale of over 82.22 crore shares or a 6.5 per cent stake at the given floor price will fetch about Rs 31,000 crore to the disinvestment kitty.
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