Centre, Sebi to discuss exempting LIC from public shareholding norm

The government is also not looking to dilute any further stake in LIC for at least a year

The finance ministry will hold discussions with Securities and Exchange Board of India (Sebi) to decide a roadmap for stake dilution in Life Insurance Corporation of India (LIC) to adhere to minimum pubic shareholding norms, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.

DIPAM will discuss with Sebi and Department of Economic Affairs (DEA) for seeking an exemption from meeting the 25 per cent minimum market float, Pandey said. This is because even a 5 per cent stake dilution in LIC through the IPO was seen upsetting the market given the current circumstances.

“Going forward