The government’s 6.5% Offer for Sale (OFS) in Life Insurance Corporation of India (LIC) has raised ₹31,552 crore after attracting robust demand from institutional and retail investors, DIPAM Secretary Arunish Chawla said on Wednesday. The issue was oversubscribed on both days, prompting the government to exercise the entire greenshoe option. The transaction has increased LIC’s public shareholding to 10%, enabling the insurer to meet SEBI’s minimum public shareholding norms well ahead of the May 2027 deadline.
