Trilegal Advised President of India On Sale Of 6.5% Stake In LIC For ₹31,552 crore
Government of India had raised ₹31,552 crore (approximately US$3.3 billion) through the sale of a 6.5% stake in LIC.
This monetisation exercise has enabled the Government of India to achieve approximately two-thirds of its budget estimate for miscellaneous receipts for Fiscal 2027.
Trilegal advised on the stake sale by the President of India, acting through the Ministry of Finance, in Life Insurance Corporation of India (“LIC”), by way of an offer for sale through the stock exchange mechanism.
Government of India raised ₹31,552 crore (approximately US$3.3 billion) through the sale of a 6.5% stake in LIC, making the transaction India’s largest-ever offer for sale.
This monetisation exercise also enabled the Government of India to achieve approximately two-thirds of its budget estimate for miscellaneous receipts for Fiscal 2027.
The stake sale increased public shareholding in LIC, India’s largest insurer, from 3.5% to 10.0%, enabling the Government of India to meet the applicable minimum public shareholding milestone ahead of the prescribed deadline. The transaction received strong investor demand, with the offer being oversubscribed.
Trilegal represented the broker syndicate comprising Goldman Sachs, BNP Paribas, Motilal Oswal and IIFL Capital.
The Trilegal team advising on the transaction was led by Partners: Richa Choudhary and Maitreya Rajurkar; and included Senior Associate: Sanya Chaudhari and Associate: Naman Shah.