The government has launched an offer-for-sale (OFS) to divest a 2.5% stake in India's largest insurer LIC, with an option to sell another 4% stake, taking the total to 6.5%. The OFS opened for non-retail investors on Tuesday and will open for retail investors on Wednesday, with a floor price of ₹382/share. The Centre currently owns 96.5% of the insurer.