Life Insurance Corporation of India (NSE:LICI) submitted its post-Offer For Sale shareholding pattern to NSE and BSE on 19 August 2026, disclosing that the President of India holds 90.00% of total equity shares following the OFS transaction, with the public category accounting for the remaining 10.00%.
Key Highlights
- The President of India, as the sole promoter, holds 11,384,912,004 equity shares, representing exactly 90.00% of LIC's total issued share capital post-OFS.
- Public shareholders collectively hold 1,265,083,398 equity shares, equal to 10.00% of total shares, spread across 2,227,490 shareholders as per the filing.
- Domestic mutual funds account for 5.33% of total shares, with ICICI Prudential Mutual Fund holding 2.70% and SBI Equity Mutual Fund holding 1.30%.
- The filing confirms no promoter shares are pledged or otherwise encumbered, and there are no partly paid-up shares, convertible securities, or locked-in shares outstanding.
About the Company
Life Insurance Corporation of India (NSE:LICI), headquartered in Mumbai, is India's largest state-owned life insurer, offering individual and group life insurance, pension, and unit-linked products across urban and rural geographies. Established under the Life Insurance Corporation Act, 1956, LIC manages one of the largest investment portfolios among Indian financial institutions and operates through an extensive agency and branch network spanning all Indian states and union territories.
Announcement in Detail
The filing, referenced as LIC/SE/2026-27/90 and signed by Company Secretary and Compliance Officer Anshul Kumar Singh, was submitted under Regulation 31(1)(b) of SEBI's Listing Obligations and Disclosure Requirements Regulations, covering the period ending 7 August 2026. The document presents the shareholding structure immediately after the conclusion of an Offer For Sale by the promoter. Total shares outstanding stand at 12,649,995,402 equity shares, all of which are fully paid up and held in dematerialised form, with no partly paid-up shares, depository receipts, or convertible instruments on record.
Within the public category, domestic institutional investors hold 6.00% in aggregate, comprising mutual funds at 5.33%, insurance companies at 0.39%, provident and pension funds at 0.17%, and banks at 0.06%. Foreign Portfolio Investors across Category I and Category II combined account for 1.20% of total equity. Directors and key managerial personnel together hold a negligible 2,304 shares as disclosed in the non-institutions sub-category, representing effectively nil on a percentage basis.
Impact on Investors
Investors will note that the post-OFS filing formalises the Government of India's reduced stake from a pre-OFS level to exactly 90.00%, increasing the freely available public float. The filing shows no promoter encumbrance of any kind, including no pledge, non-disposal undertaking, or other encumbrance, which investors will observe eliminates pledge-related refinancing risk at the promoter level for the current reporting period.
Shareholders will observe that the concentration of 90.00% ownership with a single sovereign entity, the President of India, means corporate decisions remain subject to government policy priorities. The disclosed terms indicate that public float at 10.00% is the minimum required under SEBI's minimum public shareholding norms for listed public sector undertakings, a threshold LIC has now met following this OFS transaction.
Sector / Market Context
India's life insurance sector recorded a total new business premium of over Rs 3.7 lakh crore in FY25 according to the Insurance Regulatory and Development Authority of India, with LIC retaining the dominant market share among life insurers. Government disinvestment through OFS transactions in public sector enterprises has been a recurring mechanism under SEBI's framework for achieving minimum public shareholding compliance across listed state-owned entities.