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

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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.

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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.

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

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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.

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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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