3-yr timeline for LIC for 10% public-holding rule

New Delhi: Life Insurance Corporation (LIC) on Wednesday said markets regulator Sebi has granted an additional three years time till May 16, 2027, to comply with the 10 per cent public shareholding norm. Currently, Government holding in LIC is 96.50 per cent, while public holding is 3.50 per cent.

“Pursuant to Regulation 30 of Listing Regulations, this is to inform the Securities and Exchange Board of India vide its letter dated May 14, 2024, has conveyed its decision, to grant additional time of three years to Life Insurance Corporation of India to achieve 10 per cent public shareholding... i.e., within a period of 5 years from the date of listing,” LIC said in a regulatory filing.