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Government to sell up to 6.5% stake in LIC, may mop up Rs 31k cr
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 for sale (OFS) route that will be launched on Tuesday and close on Wednesday. The base offer is for 2.5% of the life insurance major’s total equity capital with a green shoe option for another 4%, the insurance giant said in a disclosure to the exchanges.
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economictimes.indiatimes.com
LIC OFS opens tomorrow as govt looks to sell up to 6.5% stake. Check details
The government will launch LICs offer for sale for non-retail investors on Tuesday and retail investors on Wednesday. It plans to divest up to 6.5% through a base 2.5% offer and…
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thehindubusinessline.com
Govt to offload 6.54% in LIC, likely to get over ₹31,000 crore
Government to offload 6.54% stake in LIC, expecting over ₹31,000 crore proceeds, marking a record in OFS transactions.
