Current Affairs - Finance - Discussion

Sebi has extended the deadline for LIC to meet the minimum public shareholding requirement to May 16, 2027. The target set by Sebi is for LIC to achieve a 10% public shareholding. As of March 31, 2024, LIC's public shareholding stands at 3.5%, necessitating substantial divestment to comply with this regulatory requirement. This extension is intended to provide LIC with ample time to increase its public shareholding from the current 3.5% to the mandated 10%. The stock market reacted positively to this news, with LIC’s stock price increasing by 6.3% on the BSE.