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LIC stake sale: Centre mulls up to $1.5 bn divestment by year-end; Sebi float rule drives move

The government is planning to sell a stake worth $1–1.5 billion (Rs 8,800–13,200 crore) in Life Insurance Corporation of India (LIC) by the end of this year, people aware of the discussions told ET. The move is aimed at increasing the insurer’s public shareholding to 10% — the level required under Securities and Exchange Board…

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