In a stock exchange filing, LIC said the Department of Economic Affairs has decided to grant a "one-time exemption to LIC to achieve 25 per cent MPS within 10 years from the date of listing i.E., till May 2032".

Life Insurance Corporation of India (LIC) informed on Thursday that the government has granted it a one-time exemption to achieve 25 per cent Minimum Public Shareholding (MPS) within 10 years. LIC — the country's largest insurer — was listed in May 2022 where the government had sold over 22.13 crore shares, or a 3.5 per cent stake in the insurance behemoth, through an Initial Public Offering (IPO).

      Govt grants one-time exemption to LIC to achieve 25% Minimum Public Shareholding in 10 years

      In a stock exchange filing, LIC said the Department of Economic Affairs has decided to grant a "one-time exemption to LIC to achieve 25 per cent MPS within 10 years from the date of listing i.E., till May 2032".

      the country's largest insurer — was listed in May 2022 where the government had sold over 22.13 crore shares, or a 3.5 per cent stake in the insurance behemoth, through an Initial Public Offering (IPO).

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