Government to divest 6.5% LIC stake via OFS, targets Rs 31,400 crore

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The Indian government is offloading up to 6.5% of its stake in Life Insurance Corporation through an offer for sale. The two-day OFS opens on Tuesday and closes on Wednesday, with a floor price set at Rs 382 per share. A successful sale is expected to generate approximately Rs 31,400 crore for the government. The divestment is aimed at meeting minimum public shareholding requirements ahead of the regulatory deadline. The proceeds will also contribute meaningfully toward the government's annual disinvestment target.

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