Government Plans 6.5% LIC Stake Sale to Raise Over Rs 30,000 Crore

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The Indian government is planning to divest a 6.5% stake in Life Insurance Corporation of India (LIC). The sale involves over 82.22 crore shares being offloaded to the public. At the set floor price, full subscription of the offer would generate approximately Rs 31,000 crore for the government. The proceeds will go toward the country's disinvestment fund.

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