NEW DELHI . LIC purchased shares worth about Rs 16,400 crore in government's disinvestment programme through the Offer for Sale (OFS) route, accounting for 49 per cent of the money raised by the government through stake sale.
The OFS or auction route has yielded Rs 33,800 crore to the exchequer through stake sale in 11 companies since March 2012, beginning with oil major ONGC.
Country's largest insurer Life Insurance Corporation (LIC) has bought shares worth Rs 16,396 crore in these companies during the auction, according to official data.
The data reveals that with the exception of NTPC and NMDC, the state-run insurer has picked up over 50 per cent of the shares put up by the government for sale. Deccan CHronicle .