Life Insurance Corp. denied reports of a mega sale of its land assets that can fetch the state-owned insurer up to $7 billion, calling it "incorrect".
It was reported that LIC assigned an in-house team to develop a strategy for selling its real estate holdings nationwide, with the initial phase potentially commencing in Mumbai.
The insurance giant holds the third largest land parcels in the country, behind only defence and railways.
"...we hereby clarify that news published in the mainstream media is incorrect," the company said in a exchange filing on Tuesday.
Life Insurance Corp. denied reports of a mega sale of its land assets that can fetch the state-owned insurer up to $7 billion, calling it "incorrect".
It was reported that LIC assigned an in-house team to develop a strategy for selling its real estate holdings nationwide, with the initial phase potentially commencing in Mumbai. The insurance giant holds the third largest land parcels in the country, behind only defence and railways.
"...we hereby clarify that news published in the mainstream media is incorrect," the company said in a exchange filing on Tuesday.
