SEBI extends timeline for LIC to achieve 10% public shareholding

Life Insurance Corporation of India announced that Securities and Exchange Board of India (SEBI) vide its letter dated 14 May 2024 has conveyed its decision, to grant additional time of 3 years to Life Insurance Corporation of India to achieve 10% public shareholding under Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957, i.e., within a period of 5 years from the date of listing.

Accordingly, the revised timeline for the Corporation to achieve 10% public shareholding is on or before 16 May 2027.

Powered by Capital Market - Live News