The Government of India on August 7, 2026 filed a disclosure concerning the LIC stake sale under Regulation 29(2) of the SEBI Substantial Acquisition of Shares and Takeover Regulations, according to a BSE filing by Life Insurance Corporation of India. The President of India, acting through the Department of Financial Services, Ministry of Finance, submitted information on the equity shares sold during the offer-for-sale window.

The filing follows an August 3 notice in which the promoter proposed to sell up to 31,62,49,885 LIC equity shares, representing 2.50% of the corporation's paid-up equity share capital, as the base offer. The offer opened for non-retail investors on August 4 and for retail investors, along with eligible carried-forward non-retail bids, on August 5. The transaction was conducted through designated windows of BSE and the National Stock Exchange under the applicable OFS framework.

OFS included additional sale option

The promoter also retained an option to sell up to 50,59,99,816 additional equity shares, equivalent to 4.00% of LIC's total issued and paid-up equity share capital, through the oversubscription option. The filing further stated that up to 50,00,000 equity shares were offered to eligible LIC employees in accordance with the applicable OFS guidelines.

  • Base offer: 31,62,49,885 equity shares, or 2.50% of paid-up equity capital.
  • Oversubscription option: 50,59,99,816 equity shares, or 4.00% of issued and paid-up equity capital.
  • Employee offer: up to 50,00,000 equity shares.

The offer commenced on August 4 and ended on August 5. The disclosure identifies the President of India, acting through the Ministry of Finance, as LIC's seller and promoter. LIC's shares are listed on both BSE and NSE under the BSE scrip code 543526 and NSE symbol LICI.

Disclosure filed within prescribed timeline

The government said the submission reported the sale of equity shares made across the two OFS trading days. It filed the information within two working days after the offer-for-sale transactions closed, as required under Regulation 29(3) of the SEBI Takeover Regulations.

The prescribed disclosure report was enclosed with the communication signed for and on behalf of the President of India by Mandakini Balodhi, Director and authorised signatory. The supplied filing extract sets out the proposed base offer, oversubscription option and employee allocation, but does not provide a complete readable statement of the final number of shares sold.