The government is unlikely to further dilute its stake in Life Insurance Corporation of India (LIC) through a public offer over the next 18-24 months as the insurer has until 2032 to meet the minimum public shareholding (MPS) requirement, the company's Managing Director and Chief Executive Officer R Doraiswamy said on Thursday.
"What we are hearing, the government is unlikely to go in for a public offer in the next 18-24 months as LIC has time till 2032 for meeting the Minimum Public Shareholding (MPS) norm of Sebi," Doraiswamy said while responding to a question on future stake sales after the company's June-quarter earnings announcement, as reported by PTI.
