India, Aug. 5 -- The Government's 6.5 per cent stake sale in LIC saw massive interest from institutional investors who put in a whopping Rs 36,400 crore worth bids - the highest-ever for any offer for sale (OFS).

Four years after its initial public offering (IPO), which had fetched Rs 21,000 crore for a 3.5 per cent stake, the government is now selling a further 6.5 per cent stake in LIC via an OFS whose size compares with the upcoming mega IPO offerings of the NSE and Reliance Jio Platforms.

The OFS comprises a base offer size of 2.5 per cent, with a greenshoe option of 4 per cent, taking the total size to 6.5 per cent, comprising 82.22 crore shares of the country's largest insurance company.

On Tuesday, institutional investors put in...