CNBC·3 min read·medium
India to raise up to $3.3 billion by selling LIC stake at 10% discount
P
Priyanka Salve
✦AI Summary
The Indian government is selling a 6.5% stake in the state-owned Life Insurance Corporation (LIC) at a 10% discount to meet regulatory public shareholding requirements. The sale aims to raise up to $3.3 billion to support government disinvestment goals.
The Indian government will sell up to a 6.5% stake in state-owned Life Insurance Corporation of India at a 10% discount to its Monday closing price, as it moves to comply with regulatory requirements.
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