Shares of the Life Insurance Corporation of India (LIC) recovered from an early dip on Wednesday, trading in positive territory as the government's offer for sale (OFS) opened to retail investors.
The stock opened at ₹386, down from the previous close of ₹391.30, but rallied during the session as participation broadened beyond the institutional block that had driven earlier demand.
5% stake on offer. The opening of the retail window aims to gauge broader market appetite and ensure a successful allocation for the government's partial privatization effort.
The price action reflects a shift in sentiment as the divestment process moves into its final phase.
Institutional investors had previously signaled strong interest, heavily oversubscribing the initial window with bids totaling ₹36,400 crore for the 6.5% stake on offer.
The opening of the retail window aims to gauge broader market appetite and ensure a successful allocation for the government's partial privatization effort.
This development marks a significant step in New Delhi's strategy to reduce its holding in the state-owned insurer.