Government is planning to sell 2% of its stake in LIC in late June or early July to institutional investors to raise nearly ₹10,000 crore, reported Bloomberg. The government, which owned 96.5% of LIC as of March 31, raised ₹21,000 crore after offloading 3.5% stake in 2022 via IPO. Shares of LIC fell by 4% after the report.