LIC’s SAIL holding slips below 5% after insurer offloads 8.26 crore shares
Life Insurance Corporation of India has reduced its holding in Steel Authority of India Ltd by just over 2 percentage points, selling more than 8.26 crore shares through market transactions and taking its stake in the state-owned steelmaker below the 5% threshold.
The latest disclosure, dated September 2, shows that LIC sold 8,26,32,513 SAIL shares between April 28 and September 1, 2026. Following the transactions, the insurer's holding fell from 6.625% to 4.625%.
LIC's SAIL stake falls below 5%
Before the latest round of sales, LIC held 27,36,65,481 shares in SAIL, equivalent to a 6.625% stake. Its holding has now declined to 19,10,32,968 shares, representing 4.625% of the company's total share capital and voting rights.
The transactions reduced LIC's stake by 2.001 percentage points and were classified as market sales in the regulatory filing made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
SAIL's equity share capital remained unchanged during the transaction period.
LIC continues to pare exposure to SAIL
The latest sale extends a broader reduction in LIC's shareholding in the steel producer.
In April 2026, LIC disclosed that it had sold around 8.51 crore SAIL shares, reducing its stake from 8.687% to about 6.626%. With the latest transactions, the insurer has now brought its holding below 5%.
The two rounds of share sales mean LIC has reduced its stake in SAIL by more than four percentage points since its holding stood at 8.687% earlier this year.
LIC remains a shareholder despite stake reduction
Despite the latest sale, LIC continues to hold 4.625% of SAIL's share capital. The insurer also stated in its regulatory disclosure that it does not belong to the company's promoter or promoter group.
The reduction in shareholding comes after a strong period for SAIL's stock, which has gained nearly 59% over the past year.
SAIL remains one of India's largest public sector steel producers, while LIC continues to manage investments across a wide range of listed companies. The latest market sales, however, mark another significant reduction in the insurer's exposure to the state-owned steelmaker.