Govt launches 2.5% OFS in LIC; floor price fixed at Rs 382 per share, retail investors can bid on Wednesday

The government will launch an Offer for Sale (OFS) in Life Insurance Corporation of India (LIC) on Tuesday for non-retail investors as part of its disinvestment programme, while retail investors will be able to place their bids on Wednesday. The decision was announced by Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla in a post on social media. "Offer for Sale in LIC opens tomorrow for Non-Retail investors. Retail investors can bid on Wednesday. Government offers to disinvest 2.5% equity with an additional 4% as a green shoe option. Floor price has been fixed as Rs 382 per share. This will help achieve M…