The government is unlikely to further dilute its stake in Life Insurance Corporation of India (LIC) through a public offer over the next 18-24 months as the insurer has until 2032 to meet the minimum public shareholding (MPS) requirement, the company's Managing Director and Chief Executive Officer R Doraiswamy said on Thursday."What we are hearing, the government is unlikely to go in for a public offer in the next 18-24 months as LIC has time till 2032 for meeting the Minimum Public Shareholding (MPS) norm of Sebi," Doraiswamy said while responding to a question on future stake sales after the company's June-quarter earnings announcement, as reported by PTI. Also Read: LIC in talks with regulators on long-term instruments to match growing liabilities: CEOThe comments come weeks after the government sold an additional 6.5% stake in LIC through an offer for sale (OFS), increasing the insurer's public float.Referring to the transaction, Doraiswamy said, "Just very recently, the Government of India sold an additional 6.5 per cent of shares through an offer for sale (OFS), which has been well received by the markets."He added, "I want to welcome the new shareholders through the OFS into the LIC shareholder family and also thank the existing shareholders who have participated in the OFS for their continued faith in LIC."The LIC chief noted that the insurer had already achieved a 10% public shareholding well ahead of schedule."LIC has already met 10 per cent public float much ahead of schedule," he said, adding that under the special dispensation granted to the insurer, it was required to achieve the milestone only by May 2027.Also Read: LIC CFO Sunil Agrawal resigns to pursue 'better prospects'He also expressed confidence that the higher public shareholding would support the company's stock performance.The government currently has until 2032 to ensure LIC complies with the Securities and Exchange Board of India's requirement for a 25% minimum public shareholding.The comments came as LIC reported a 23% year-on-year increase in consolidated net profit to Rs 13,492 crore for the quarter ended June, while total premium income rose 6.75% to Rs 1.27 lakh crore.The insurer's Value of New Business (VNB) grew by more than 61%, while the VNB margin expanded to 22.90%, attributing the improvement to product diversification and its distribution strategy.