India's LIC falls after reports of government stake sale

Life Insurance of India

27/05/2026 09:33

** Shares of Life Insurance Corporation of India LIFI.NS drop as much as 4.2% to 818.85 rupees
** The Indian government is likely to begin formal marketing next month for a planned share sale in LIFI that could raise as much as 100 billion rupees ($1.04 billion), Bloomberg News reported on Wednesday, citing people familiar with the matter
** Company plans to sell a stake of about 2% in the state-run insurer in late June or early July to institutional investors- Bloomberg
** Govt owned 96.5% of the country's largest insurer as of March 31, according to exchange data
** LIFI and department Of Investment and Public Assets Management (DIPAM) did not immediately respond to a Reuters' request for comment
** More than 4.2 million shares traded, almost double their 30-day avg 
** LIFI rated "buy" by 23 analysts on avg; median PT is 1,010 rupees - data compiled by LSEG

($1 = 95.7500 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)
 ((UrviManoj.Dugar@thomsonreuters.com;))