Government Receives Rs 3,662 Crore Dividend from LIC
In a move aimed at granting additional time to Life Insurance Corporation (LIC) of India to meet regulatory requirements, the Securities and Exchange Board of India (Sebi) has extended LIC’s deadline to achieve a minimum 10% public shareholding. LIC, a state-owned insurance giant, now has until May 16, 2027, to fulfill this obligation.
Following the announcement, LIC’s stock surged by 6.3% on the Bombay Stock Exchange (BSE), closing at Rs 989.8 per share, despite broader indices experiencing a slight decline.
This extension underscores the complexities involved in transitioning a state-owned behemoth like LIC towards greater public ownership while balancing regulatory requirements with market dynamics.
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