New Delhi, Aug. 3 -- The central government is set to sell up to 6.5% stake in Life Insurance Corporation of India (LIC) at floor price of Rs.382 per share through a two-day offer for sale (OFS), DIPAM Secretary said in a post today on social media platform X (formerly known as Twitter).

The process opens for non-retail investors on 4 August and for retail investors on Wednesday, 5 August, the post added.

The government offer will disinvest 2.5% equity in the insurance behemoth, with an additional 4% as a green shoe option. "This will help achieve MPS milestones ahead of schedule," the post added.

(This is a breaking story, more updates to come.)

Published by HT Digital Content Services with permission from MINT....