LIC's OFS Is the Ninth During the Current Fiscal Year

The government's completion of LIC's Offer for Sale on Wednesday helped it achieve nearly two-thirds of the FY27 budget estimate for miscellaneous receipts, with proceeds from disinvestment hitting an eight-year high. The government offloaded 6.54 per cent of its stake in Life Insurance Corporation of India, raising over ₹31,000 crore, bringing total disinvestment proceeds to over ₹52,000 crore, the highest since FY19 when the mop-up was around ₹85,000 crore. Disinvestment proceeds are now included under 'miscellaneous receipts', for which the FY27 budget estimate is ₹80,000 crore, also covering asset monetisation earnings. Retail investors and eligible employees bid at ₹373.10 per share after a ₹10 discount, while the cut-off price for non-retail investors remained at ₹383.10. The OFS helped LIC achieve minimum public shareholding milestones ahead of schedule, with public holding rising from 3.5 per cent to 10 per cent, ahead of the revised May 16, 2027 timeline.