New Delhi, Aug. 3 -- The Centre on Monday unveiled an Offer for Sale (OFS) to divest a 2.5 per cent stake in Life Insurance Corporation of India (LIC), along with an additional 4 per cent green shoe option, as part of its ongoing disinvestment programme to improve the insurer's minimum public shareholding (MPS).
Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla announced the offer through a post on social media platform X, saying the OFS would open for non-retail investors on Tuesday, while retail investors would be able to bid on Wednesday.
"Offer for Sale in LIC opens tomorrow for Non-Retail investors. Retail investors can bid on Wednesday. Government offers to disinvest 2.5% equity with an additional...