LIC OFS: Non retail bidding opens tomorrow at ₹382/share, retail bidding opens on Aug 5
Confirming the timeline, Secretary, DIPAM in a publish on X (formally twitter) wrote, “Provide for Sale in LIC opens tomorrow for Non-Retail buyers. Retail buyers can bid on Wednesday. Authorities gives to disinvest 2.5% fairness with an extra 4% as a inexperienced shoe possibility. Ground value has been mounted as Rs 382 per share. This can assist obtain MPS milestones forward of schedule.”
Below the proposed construction, the federal government is placing up a base subject of two.5% fairness, retaining the choice to dump an extra 4% via a greenshoe mechanism if institutional demand stays robust. Bids submitted beneath the ground value of ₹382 is not going to be accepted, with the ultimate allotment value decided by demand over the two-day window.
The federal government presently holds a 96.5% majority stake within the insurance coverage behemoth after promoting a 3.5% stake throughout its Could 2022 market debut. The Securities and Trade Board of India (SEBI) has mandated LIC to boost its public shareholding to no less than 10% by Could 2027, with an final goal of reaching a 25% free float.
The recent OFS tranche strikes the Centre nearer to assembly these statutory benchmarks whereas increasing secondary market liquidity.
