India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount
Indian government plans to raise up to $3.3 billion by selling its stake in the country's top life insurance company.
The Indian government plans to raise up to $3.3 billion by selling a stake in the country's largest life insurer, Life Insurance Corporation of India (LIC). The government will offer up to a 6.5% stake in the state-owned company at a 10% discount to its Monday closing price, with the base size of the offer being a 2.5% stake and an option to sell an additional 4%.
The stake sale is aimed at complying with regulatory requirements to reduce the government's stake in LIC from 96.5% to 75% by 2032. LIC is the leading life insurance company in India, with over 56% market share based on premium income and assets under management of 57.29 trillion rupees as of March 2026. The government previously sold a 3.5% stake in LIC during its IPO in 2022, raising over $2.7 billion.
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