LIC stock rises over 3% today as Street reacts to 1:1 bonus issue; first since listing
The Government of India currently holds 96.5 percent in LIC and is required to reduce its holding over time to meet minimum public shareholding norms. The bonus issue could aid future stake sales through an offer for sale (OFS) by expanding the equity base.
The Government of India currently holds 96.5 percent in LIC and is required to reduce its holding over time to meet minimum public shareholding norms. The bonus issue could aid future stake sales through an offer for sale (OFS) by expanding the equity base.
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