Trilegal advised on USD 3.3 billion stake sale by the President of India, acting through the Ministry of Finance, in LIC, India's largest-ever offer for sale

Trilegal advised on the stake sale by the President of India, acting through the Ministry of Finance, in Life Insurance Corporation of India (“LIC“), by way of an offer for sale through the stock exchange mechanism.

The Government of India raised Rs.31,552 crore (approximately US$3.3 billion) through the sale of a 6.5% stake in LIC, making the transaction India’s largest-ever offer for sale.

This monetisation exercise also enabled the Government of India to achieve approximately two-thirds of its budget estimate for miscellaneous receipts for Fiscal 2027.

The stake sale increased public shareholding in LIC, India’s largest insurer, from 3.5% to 10.0%, enabling the Government of India to meet the applicable minimum public shareholding milestone ahead of the prescribed deadline. The transaction received strong investor demand, with the offer being oversubscribed.

Trilegal represented the broker syndicate comprising Goldman Sachs, BNP Paribas, Motilal Oswal and IIFL Capital.

The Trilegal Capital Markets team advising on the transaction was led by Partners: Richa Choudhary and Maitreya Rajurkar; and included Senior Associate: Sanya Chaudhari and Associate: Naman Shah.

About Trilegal

Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With 161 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,300 professionals across its Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, and GIFT City offices.

Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Law Firm of the Year at the ET Global Legal Awards2026, Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024.

For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com.