Government 6.5% stake in LIC draws ₹36,400cr bids day 1

Business Aug 04, 2026

LIC just saw huge demand from institutional investors for the government's 6.5% stake sale: bids worth ₹36,400 crore on Day one.

The Offer for Sale (OFS) covers over 82.22 crore shares and could bring in around ₹31,000 crore at a minimum price of ₹382 per share.

LIC retail bids begin August 5

This sale helps LIC get closer to SEBI's rule that at least 10% of its shares are owned by the public by May 16, 2027.

While big investors have already oversubscribed, retail investors get their turn starting Wednesday, August 5, 2026.

For context, the government had earlier raised ₹21,000 crore through LIC's IPO in 2022 and still owns most of the company.