The Hindu·2 min read·medium
LIC dips 8% as government sells stake at 10% discount
T
The Hindu Bureau
✦AI Summary
LIC shares fell by 8% after the Indian government sold a 6.5% stake in the insurer at a 10% discount. The offer for sale attracted significant institutional interest, with retail subscription scheduled to follow.
Investors sold Life Insurance Corporation (LIC) pulling it down by almost 8% in a session on the BSE, closing at more than a two-month low of ₹391/share after the government sold its stake at a lower price.
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