Law firms advised on different aspects of LIC’s landmark divestment, alongside a consortium of financial intermediaries and advisers. Goldman Sachs (India) Securities Private Limited, BNP Paribas Securities India Private Limited, Motilal Oswal Investment Advisors Limited, and IIFL Capital Services Limited acted as the brokers for the transaction.

The Government of India successfully completed the country’s largest-ever share sale through the stock exchange Offer for Sale (OFS) mechanism for Life Insurance Corporation of India (LIC), divesting approximately 82.23 crore equity shares and raising over INR 31,500 crore (approximately USD 3.25 billion), including the base offer and the greenshoe option. The transaction attracted overwhelming participation from both institutional and retail investors and marked a significant milestone in the Government’s disinvestment programme.

Law Firms spearheading the deal included Dentons Link Legal (Milind Jha, Aditya Bhardwaj and Shailender Sharma), Trilegal (), and Sidley Austin and FBT Gibbons.

The transaction represents one of India’s most significant capital markets and disinvestment exercises, showcasing the scale and complexity of multi-adviser coordination required for landmark public sector divestments.