Why were LIC stake sale specifics kept from government-appointed banks?
According to a Bloomberg report, the government chose not to share key details regarding the LIC stake sale—such as the specific timing and volume—with the banks hired to advise on the deal. Authorities kept the launch date under wraps to stop traders from betting against the stock and driving prices down ahead of the offering. While advising banks received information at varying intervals, officials moved the deal forward quickly to bypass market speculation and ensure price stability.
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