LIC stake to be sold by centre in two stages to avoid disruption of market
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According to sources in the finance ministry, the central government is unlikely to sell a 10% stake in LIC through an IPO. The centre may sell stake in LIC in two stages, with the sale of 5-6% in the first stage. The valuation exercise of LIC is estimated to be nearly Rs. 12 trillion to 15 trillion. The government thinks selling the stake in one go may result in crowding out private companies from the equity market.