LIC shares dip to 4-month low as govt launches offer to sell 6.5% stake

Shares of LIC fell 8.82% on Tuesday, hitting their lowest level in nearly four months. The decline came as the government's Offer for Sale (OFS), priced at ₹382 per share, nearly 11% below Monday's closing price of ₹424.35, opened for subscription for non-retail investors. The government plans to sell up to a 6.5% stake in the insurer through the OFS.