Indian law firm Trilegal advised the broker syndicate on the Government of India’s ₹31,552 crore (approximately $3.3 billion) stake sale in Life Insurance Corporation of India (LIC), marking the country’s largest-ever offer for sale, completed Monday.The transaction involved the President of India, acting through the Ministry of Finance, divesting a 6.5 per cent stake in LIC through the stock exchange mechanism. The offer was oversubscribed, reflecting strong investor demand.The stake sale raised LIC’s public shareholding from 3.5 per cent to 10 per cent, allowing the government to meet the minimum public shareholding requirement ahead of the regulatory deadline. The proceeds also helped the government achieve roughly two-thirds of its budget estimate for miscellaneous receipts for Fiscal Year 2027.Trilegal represented the broker syndicate comprising Goldman Sachs, BNP Paribas, Motilal Oswal, and IIFL Capital. The firm’s team was led by partners Richa Choudhary and Maitreya Rajurkar, with senior associate Sanya Chaudhari and associate Naman Shah also involved in the transaction.LIC is one of India’s largest insurers. Prior to this transaction, the government held a 96.5 per cent stake in the corporation following LIC’s initial public offering in 2022.Trilegal is a full-service Indian law firm with 161 partners and over 1,300 professionals across seven offices, including Mumbai, Delhi, and Bengaluru. The firm has been recognised as Law Firm of the Year at the ET Global Legal Awards 2026 and Best Overall Law Firm by India Business Law Journal in 2025, among other accolades.Published on August 10, 2026