A 70-year-old law and a 10% stake: What keeps LIC invested in NSE

LIC continues to hold a significant 10% stake in the National Stock Exchange (NSE), backed by a 70-year-old law that permits the insurer to invest in stock exchanges. Maintaining this stake gives LIC the power to hold a director seat on the NSE board. The development is relevant to the long-awaited NSE IPO, one of the most anticipated listings in Indian markets.