LIC Post-OFS Shareholding Pattern: Government Holding Remains at 90%, Public Shareholding at 10%
Life Insurance Corporation of India (LIC) has disclosed its post-Offer for Sale (OFS) shareholding pattern to the stock exchanges on August 19, 2026. The disclosure provides details of the company’s shareholding structure following the OFS.
According to the filing, the President of India continues to hold 90% of LIC’s total equity share capital, while public shareholders collectively hold the remaining 10%.
LIC Shareholding After OFS
LIC has a total of 12,649,995,402 equity shares outstanding.
The post-OFS shareholding pattern is:
- Promoter – President of India: 11,384,912,004 shares
- Promoter holding: 90%
- Public shareholders: 1,265,083,398 shares
- Public shareholding: 10%
- Total shares: 12,649,995,402
The filing shows that the promoter holding is entirely held by the President of India, representing the Government of India’s stake in LIC.
Mutual Funds Hold the Largest Share Among Domestic Institutions
Within the public shareholding category, domestic mutual funds are among the largest institutional shareholders.
Mutual funds collectively hold 674,013,851 LIC shares, representing approximately 5.33% of the company’s total equity.
Among the disclosed mutual fund holdings:
- ICICI Prudential Mutual Fund: 341,711,140 shares, or 2.70%
- SBI Equity Mutual Fund: 164,546,529 shares, or 1.30%
Domestic institutional investors collectively hold around 6% of LIC’s equity.
Foreign Investors Hold Around 1.20%
Foreign institutional participation in LIC remains relatively limited compared with domestic institutional ownership.
The filing shows:
- FPI Category I: 145,120,728 shares, or 1.15%
- FPI Category II: 6,583,389 shares, or 0.05%
- Total foreign institutional holding: 151,704,117 shares, or 1.20%
This indicates that foreign portfolio investors collectively account for approximately 1.20% of LIC’s equity based on the post-OFS shareholding pattern.
Retail Investors Hold a Significant Portion of Public Shares
The public shareholding also includes a large number of individual investors.
Resident individuals holding nominal share capital of up to ₹2 lakh collectively hold 224,994,212 shares, representing around 1.78% of LIC’s total equity.
Resident individuals holding shares worth more than ₹2 lakh hold another 31,578,315 shares, or approximately 0.25%.
The filing shows 2,160,091 shareholders in the category of resident individuals holding nominal share capital up to ₹2 lakh, highlighting the large retail investor base in LIC.
No Pledged or Encumbered Promoter Shares
The post-OFS disclosure also indicates that LIC has no promoter shares pledged or otherwise encumbered.
The company has reported:
- No partly paid-up shares
- No outstanding convertible securities or warrants
- No shares underlying depository receipts
- No locked-in shares
- No pledged or encumbered promoter shares
The promoter’s entire 11,384,912,004-share holding is therefore shown as unencumbered.
Foreign Ownership Limit
LIC’s foreign ownership limit is reported at 20%, while the utilised portion stood at 1.23% as of August 7, 2026.
This indicates that foreign ownership remains well below the permitted limit.
What Does the LIC OFS Shareholding Pattern Mean for Investors?
The post-OFS shareholding pattern confirms that the Government of India remains LIC’s dominant shareholder with a 90% stake, while public ownership stands at 10%.
The OFS has therefore increased the portion of LIC’s equity available to public investors without changing the government’s controlling position.
The relatively large institutional holding, particularly among mutual funds, also indicates continued participation from domestic long-term investors. At the same time, LIC has a substantial retail shareholder base, with more than 2.16 million shareholders in the largest individual-investor category.
For investors, the key takeaway is that LIC continues to have a very high government/promoter holding, while the public float remains at 10% after the OFS.
LIC Post-OFS Shareholding: Key Numbers
Total equity shares: 12.65 billion
Government/Promoter holding: 90%
Public holding: 10%
Domestic institutional holding: 6.00%
Foreign institutional holding: 1.20%
Retail investors (up to ₹2 lakh): 1.78%
Foreign ownership limit: 20%
Promoter pledged shares: Nil
The above information is based on LIC’s post-OFS shareholding pattern filed with BSE and NSE on August 19, 2026. The filing provides the shareholding position and does not by itself indicate the future direction of LIC’s stock price.