LIC gets 3 more years to dilute up to 10% stake
Wednesday, 15 May 2024
Sebi extends LIC's deadline to achieve 10% public shareholding by May 16, 2027 after Rs 21,000 crore IPO in 2022, diluting govt stake to 95%. Rule 19(2)(b)(iv) mandates 5% initial dilution. Shares of LIC jump over 6% on Wednesday. LIC Housing Finance reports 7.5% profit decline to Rs 1,091 crore in March quarter.
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