Overview
- The government completed a two-day offer for sale on Thursday, allocating 82,23,33,558 LIC shares and raising Rs 31,552 crore by exercising a full 4% green shoe option.
- Officials started with a 2.5% base offer and expanded it to 6.5% after strong demand, a move designed to limit selling pressure and signal investor interest.
- Stock exchange data showed the institutional tranche was subscribed about 3.32 times, the retail portion was 69% subscribed, and the overall issue covered roughly 1.2 times.
- Reporting said the deal was run with tightly controlled timing and limited internal disclosure, and that the advising banks agreed not to charge advisory fees.
- The sale brings LIC into compliance with SEBI’s public-holding rule and adds materially to government disinvestment receipts while leaving LIC shares little changed in trading.