Why is the government offloading stake in LIC? | Explained
The Indian government is selling a 6.5% stake in the Life Insurance Corporation (LIC) through an Offer for Sale to meet disinvestment targets and SEBI shareholding requirements. The move aims to achieve 10% public shareholding by 2027 while generating significant revenue for the state.
The story so far: The Government of India is partially offloading stake in the Life Insurance Corporation of India (LIC) , one of its crown jewels. The move, while helping the insurance behemoth comply with capital market regulator Securities and Exchange Board of India’s (SEBI) shareholding norms ahead of the deadline, will actually benefit the Centre from a perspective of inching closer to its ₹80,000 crore disinvestment target for FY27.
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