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 Life Insurance Corporation of India (LIC), the country's largest life insurer. The government owns a 96.5% stake in LIC and needs to reduce its ownership to 75% by 2032 to comply with regulatory requirements. The upcoming stake sale, priced at 382 rupees per share, will offer the government up to 314 billion rupees ($3.3 billion) through a base size of a 2.5% stake and an option to sell an additional 4% in the company.

The offer will be available for subscription from Tuesday to Wednesday. LIC, with over 56% market share in the Indian life insurance sector, has assets under management worth around $600 billion as of March 2026. The government previously sold a 3.5% stake in LIC during its 2022 IPO, raising over $2.7 billion.

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