Institutional investors have oversubscribed the government’s 6.5% stake sale in Life Insurance Corporation (LIC) through an offer-for-sale (OFS), bidding a total of ₹36,400 crore. The OFS opened on August 4, 2026, and the retail portion of the sale is set to begin on August 5, with a floor price of ₹382 per share, according to livemint.com.
The OFS attracted bids 3.32 times the base size of the stake being sold, reflecting strong investor interest. Institutional investors placed their bids on the first day of the sale, which is part of the government’s plan to divest a 6.5% stake in LIC. The retail offer will open the following day, allowing individual investors to participate at the set floor price, as reported by livemint.com and thehindubusinessline.com.
This oversubscription highlights robust demand for LIC shares amid ongoing government divestment efforts. The ₹36,400 crore bid amount underscores investor confidence in LIC’s market value and growth prospects. The sale is one of the significant government stake sales this year, contributing to the broader divestment target. LIC’s listing and stake sale have been closely watched by market participants given its size and importance in the insurance sector, according to livemint.com.
The retail offer for LIC’s 6.5% stake will open on August 5, 2026, at a floor price of ₹382 per share. Investors can submit bids during the retail portion of the OFS, with the final allotment expected after the close of the offer, as detailed by livemint.com.