India expanded its Life Insurance Corp. share sale to $3.3 billion after 3.32x oversubscription, offloading up to 6.5% of LIC equity amid fiscal
India just turned what was already a blockbuster share sale into something considerably larger. The government expanded its Offer for Sale in Life Insurance Corporation of India to raise approximately 314 billion rupees, roughly $3.3 billion, after the original tranche was oversubscribed by 3.32 times.
The expanded offering now covers up to 6.5% of LIC’s equity.
The mechanics of a mega-sale
LIC’s share price dropped roughly 8% intraday on the day the OFS was announced.
Why India is selling now
Indian government plans to raise up to $3.3 billion by selling its stake in the country's top life insurance company.
India is preparing to launch a new share sale for Life Insurance Corporation of India next month. This offering could bring in as…
The government's Life Insurance Corporation share sale has garnered overwhelming attention from institutional investors, with…
MUMBAI: Govt on Tuesday opted to sell an additional 4% in LIC in the ongoing offer for sale (OFS) for the life insurance major as…
MUMBAI/NEW DELHI: The govt is selling up to 6.5% in LIC, currently worth nearly Rs 35,000 crore ($3.7 billion) through the offer…
The government plans to sell a stake of about 2% in the state-run insurer in late June or early July to institutional investors,…
India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount
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Govt ups LIC offer size, OFS India's biggest
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Govt unveils offer for sale to dilute LIC stake
Govt to sell up to 6.5% in LIC at ₹382/share; to add ₹31k crore to disinvestment kitty
LIC shares in focus as OFS to sell up to 6.5% stake opens at 11% discount. Here’s all you need to know
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