In FY 2024/25, India may sell a 10% stake in GIC for about Rs 57 billion. LIC plans to offload 10% over 7 years and 25% over 10 years post its successful IPO.
India Business News: The shares of Life Insurance Corporation of India (LIC) have bounced back impressively after recent declines, rising 6% to Rs 972 in the first session of FY25. This surge brought the stock above its IPO price of Rs 949, marking a strong recovery for India's largest insurer.
GQG has been adding stocks across infrastructure, consumer goods and energy sectors in the India equity market which topped the $4 trillion mark, cementing its status as one of the best performers in the emerging world.
LIC said the income tax department has released Rs 21,740.77 crore on February 15 and that it was pursuing for the balance with the income tax department. The total amount of refund was Rs 25,464.46 crore.