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The Finance Ministry has granted a one-time exemption to LIC to achieve 25 per cent minimum public shareholding within 10 years from the date of listing
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https://www.livemint.com/market/stock-market-news/lic-can-achieve-minimum-public-shareholding-of-25-by-may-2032-govt-grants-one-time-exemption-11703164058913.html
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