Overview

• The government is reported to offer a first tranche of 2.5–3% of Life Insurance Corporation of India shares through an offer-for-sale transaction.
• Motilal Oswal and IDBI Capital have been appointed as brokers to manage the proposed divestment.
• Roadshows are expected to begin within two weeks to determine the tranche’s final size, pricing and investor interest.
• The initial sale could raise between Rs 14,000 crore and Rs 17,000 crore for the government.
• LIC shares fell about 3% intraday on the reports, although the government will retain its majority stake and management control.