LIC Share Price Rises as SEBI Grants Additional Three Years for 10% Public Shareholding

Share Market Today

The Securities and Exchange Board of India (SEBI) has granted an additional 3 yrs to Life Insurance Corporation of India (LIC) to achieve 10% public shareholding by 16th May 2027.

LIC shares opened upside at ₹934 per share on NSE and reached an intraday high of ₹962 per share, marking an over 5% rise against Tuesday's close of ₹931 per share.

The new timeline for LIC to achieve the shareholding norm is on or before May 16th, 2027.

LIC shares were listed on the BSE and NSE on 17th May 2022 and had to achieve a 10% public shareholding norm by 16th May 2024.

The SEBI granted an additional three years to enable LIC to achieve the existing shareholding norms under the Securities Contracts (Regulation) Rules, 1957.

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