LIC slumps as govt puts 6.5% stake on the block
Synopsis LIC shares plunged nearly 9% after the government’s offer for sale (OFS) to divest up to a 6.5% stake in the insurer opened for
Synopsis LIC shares plunged nearly 9% after the government’s offer for sale (OFS) to divest up to a 6.5% stake in the insurer opened for institutional investors. The OFS includes a 2.5% base offer and a 4% green shoe option, with a floor price of Rs 382 per share, an 11% discount to the previous close.
The BriefWire