{
  "id": 113666,
  "title": "India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount",
  "url": "https://urgent.news/2026/08/04/india-to-raise-up-to-3-3-billion-by-selling-stake-in-countrys-largest-113666",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T03:00:01.000Z",
  "source": {
    "name": "CNBC World",
    "slug": "cnbc-world",
    "url": "https://www.cnbc.com/2026/08/04/india-lic-stake-sale-discount.html"
  },
  "original_language": "en",
  "account": null,
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "YourStory",
        "title": "Bringing India’s forgotten games back to life; MobiKwik posts Rs 7.6 Cr net profit",
        "url": "https://urgent.news/2026/08/04/bringing-indias-forgotten-games-back-to-life-mobikwik-posts-rs-7-6-cr",
        "published": "2026-08-04T02:00:00.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount",
        "url": "https://urgent.news/2026/08/04/india-to-raise-up-to-3-3-billion-by-selling-stake-in-countrys-largest",
        "published": "2026-08-04T03:00:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}