India to sell stakes in 8 state firms including LIC

Business Jul 02, 2026

Facing budget stress from high oil prices, the Indian government is moving quickly to sell stakes in eight major state-run firms, including LIC, Hindustan Zinc, and several banks.
The LIC sale alone could bring in ₹10,000 crore ($1.05 billion), while Hindustan Zinc might add another ₹5,000 crore.

Officials meet investment bankers weekly

Officials are meeting with investment bankers every week to figure out demand, pricing, and timelines for these sales.
After earlier struggles with selling IDBI Bank shares, the process there is being tweaked: only existing bidders can try again.
Despite global investors pulling out money in the first half of this year, recent stake sales have actually beaten previous years' records, giving the government a bit of momentum.