Q. By selling a 3.5 per cent stake in LIC, what is the total amount to be raised by the Government?
Ans. The portion set for policyholders was booked 6.11 times, employees by 4.39 times, retail investors by 1.99 times, non-institutional investors by 2.91 times and qualified institutional buyers (QIB) by 2.83 times. The government will raise ₹ 21,000 crore from selling a 3.5 per cent stake in the country’s top insurer. This is only a third of the original target fixed by the government.