Shares of Life Insurance Corporation (LIC) tumbled around 8 per cent on Tuesday, August 4, 2026, as the company announced that it will sell up to a 6.5 per cent stake or 82.22 crore shares, of the state-run insurer through an offer for sale (OFS). The two-day OFS is open for non-retail investors on Tuesday and for retail investors on Wednesday. The floor price for this OFS has been set at Rs 382 per share. If fully subscribed, the sale will add about Rs 31,000 crore to the disinvestment kitty. “Government offers to disinvest 2.5 per cent equity with an additional 4 per cent as a green shoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.
Floor price for OFS
The floor price of Rs 382 is at a 10 per cent discount over the closing price of LIC shares on Monday. The stock had closed at Rs 424.35 on the BSE.
According to the information available, the stake sale will help LIC achieve the minimum public shareholding requirement mandated by market regulator Sebi ahead of schedule.
LIC share price today
