The government will open an offer for sale in Life Insurance Corp (LIC) on Tuesday for non-retail investors, as it moves to reduce its stake in the country’s largest insurer and meet minimum public shareholding milestones ahead of schedule. Retail investors will be able to bid on Wednesday.

The government plans to sell 2.5% equity in LIC, with an additional 4% available as a green shoe option. If fully subscribed, the offer could lead to a total stake sale of up to 6.5%.

The floor price for the OFS has been fixed at Rs 382 per share. The sale is part of the government’s plan to increase public shareholding in LIC after the insurer’s listing. LIC remains one of the largest government-owned listed companies, and the public float has to be gradually increased to comply with minimum public shareholding requirements.

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Non-retail bidding first

The OFS will open first for non-retail investors on Tuesday. This category usually includes institutional investors and high-net-worth investors. Retail investors will get their turn on Wednesday. Under the OFS process, retail investors can place bids separately, usually with a portion reserved for them.
The floor price of Rs 382 per share will act as the minimum price at which investors can bid. Bids below this price will not be accepted. The final sale price will depend on investor demand during the OFS window.”The Life Insurance Corporation of India (LIC) is a cornerstone of the nation’s financial sector, serving as India’s largest life insurer and the country’s second-largest public sector enterprise by market capitalization. Its institutional eminence is recognized both domestically and globally, with LIC ranked as the fourth most valuable brand in India and the world’s third-strongest insurance brand. Furthermore, LIC’s exceptional operational scale and market penetration are exemplified by its Guinness World Record for the most life insurance policies sold within a 24-hour period, reflecting unwavering public trust and unmatched execution capabilities,” DIPAM secretary Arunish Chawla said.

The base issue size is 2.5% of LIC’s equity. The government has also kept an additional 4% as a green shoe option. A green shoe option allows the seller to sell more shares if demand is strong. In this case, if investors show enough interest, the government can sell more than the base 2.5% stake.

LIC is a largecap public sector financial company with a wide retail investor base, and any stake sale in the company is closely tracked by investors.

The stake sale is expected to help LIC move faster toward minimum public shareholding milestones. Listed companies are required to maintain a minimum level of public shareholding. Since LIC was listed with the government holding a large majority stake, the public float has to rise over time.

New England Patriots running back TreVeyon Henderson shared a personal reflection on his Christian faith this week, writing that he is “so weak without Him, and apart from Jesus I can’t do anything.”

In a post on X dated Aug. 2, Henderson addressed a common saying about God giving tough battles to the toughest soldiers. He pointed instead to biblical examples of disciples and others who suffered for their faith, noting that God often chooses weak people and empowers them through the Holy Spirit.

“I once thought I was a ‘tough soldier’ until I met Jesus, I then realized that I’m so weak without Him, and apart from Jesus I can’t do anything,” Henderson wrote. “I need Jesus daily. The only way that I can truly become who God wants me to be and truly do what God wants me to do, is not by my power not by my might, but only by The Spirit of The Living God. Thank you Jesus.”

The message continues a consistent theme for the second-year running back, who has spoken openly about his faith since his college days at Ohio State and throughout his NFL career. Henderson, selected in the second round of the 2025 NFL Draft, has repeatedly credited Jesus for both his on-field success and personal transformation.

During his rookie season, after a multi-touchdown performance against the New York Jets in November 2025, Henderson told reporters on national television: “I’ve just been staying patient, trusting the Lord’s plan – just continue to do my part, and the rest I just leave up to Him. And so I’m thankful that I was able to come out here, and He allowed me to have this success. But I’m so weak without Him. And you know – I really mean this from my heart – I can’t do it without Jesus.”

He has described a turning point during his time at Ohio State, when recovery from injury and conversations with coaches led him to deepen his faith. Henderson has said he previously struggled with depression, suicidal thoughts and finding identity in football, money and other pursuits. After coming to faith, he has spoken of finding purpose and freedom from those struggles.

“I was accomplishing everything at one point. I had the money, women, but at the end of the day, deep in my heart, I was empty, lost, broken inside,” Henderson has shared in interviews. “When I came to Christ, I found healing, true love, true purpose, true identity, and I realized who I truly am and who God always intended for me to be: His son.”

His social media bios reflect the priority: “Jesus Saved My Life | Follower of Jesus Christ | Running Back” and similar statements emphasizing that football is what he does while being a child of God is who he is. Henderson regularly posts Scripture and messages encouraging others to turn to Christ, including calls for those who feel “too far gone” to recognize that Jesus came for sinners.

On the field, Henderson contributed significantly as a rookie, rushing for 911 yards and nine touchdowns while averaging 5.1 yards per carry. He provided explosive plays for the Patriots, including multiple long touchdown runs, and helped the team reach the Super Bowl. He has shared the backfield with veteran Rhamondre Stevenson and has spoken positively about their complementary styles.

Entering his second season, Henderson has participated in the team’s offseason program and training camp. He has discussed feeling more relaxed and focused on growth as a player and person, while continuing to emphasize mental preparation, blocking and receiving improvements. The Patriots’ running back room remains a point of interest as the team builds around quarterback Drake Maye.

Henderson has also addressed the challenges that come with publicly sharing his beliefs. Earlier in 2026, after posting in response to a situation involving another athlete, he spoke with reporters about conversations with head coach Mike Vrabel.

“I think the biggest thing I know is the cost that it comes with when I share my faith in Jesus Christ,” Henderson said. “I have love for everyone, but my love may not look like the world’s love. I try to love people through a biblical lens with just grace and truth. I know a lot of people may be offended by it. But I think the biggest thing is just we look at life at two different lenses. I look at it one way; someone else looks at it another.”

He added that he does not plan to stop sharing his faith. “I’m not going to stop sharing my faith, you know? I’ll continue to share my faith and reach people and just let the Lord use me to reach people with love and truth.” Henderson described the discussion with Vrabel as respectful and productive.

Throughout interviews, Henderson has stressed reliance on prayer, Scripture and trust in God’s plan amid the highs and lows of professional football. He has noted that the NFL brings significant physical and mental demands, especially after consecutive long seasons, but returns repeatedly to the idea that his foundation rests on faith rather than performance or external validation.

“My life is going to be a whole lot of ups and downs. But I’m no longer building my life on the foundation of football. I’m building my life on the foundation of Jesus Christ,” he has said in past comments. He frequently references the need to honor God through daily work and to remain grateful regardless of individual statistics or team results.

As the Patriots prepare for the 2026 season, Henderson continues to balance his role as a dynamic contributor in the backfield with his public expressions of faith. His recent post reiterates a message he has delivered in various forms: dependence on Jesus rather than personal strength.

The 23-year-old running back remains one of the more vocal athletes in the league on matters of faith, using both postgame interviews and social media platforms to point others toward the beliefs that he says transformed his life. Whether discussing on-field patience, personal struggles or broader spiritual themes, Henderson consistently frames his perspective around daily reliance on Jesus.

The Government department’s new regional headquarters at 1 Pilgrim Place in Newcastle is one of the largest office developments ever built in the city centre

One of the largest office schemes ever created in Newcastle city centre has reached its latest construction milestone. With just eight months to go before the official launch of 1 Pilgrim Place, representatives from all of the project’s partners have gathered in Newcastle to see the continued construction progress at the landmark development.

Representatives from the Department for Work and Pensions (DWP), Reuben Brothers (Newcastle) Ltd, Bowmer + Kirkland, Avison Young, Ryder Architecture, Cundall and Newcastle City Council visited the site to mark the latest construction milestone ahead of the building’s completion in 2027.

The building is one of three planned by project partners in the heart of the city – Pilgrim’s Quarter, which will become home to thousands of HMRC staff. 1 Pilgrim Place which will become the new regional base for the DWP, while 2 Pilgrim Place is being made available to let with property agents, offering “sustainable, best-in-class office accommodation”.

Attendees were taken on a guided tour of the development before hearing from project partners about the significance 1 Pilgrim Place will hold in the continuing transformation of Newcastle city centre. Alongside neighbouring schemes including Pilgrim’s Quarter, Hotel Gotham Newcastle, Worswick Chambers – now a permanent home to Stack – and Bank House, the development’s 7.9-hectare site forms a key component of one of the most ambitious city-centre regeneration programmes in the UK.

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The occasion underscored the strength of partnership between the public and private sectors, with stakeholders reflecting on the considerable progress made to date. A commemorative plaque was also unveiled to mark the completion of the building’s shell.

Roger Thornton, head of property at Motcomb Estates, asset manager for Reuben Brothers (Newcastle) Ltd, said: “Today’s event is a great opportunity to recognise the progress being made at 1 Pilgrim Place and the commitment shown by everyone involved in delivering it. The building is an important part of the wider regeneration of Pilgrim Street, creating high-quality workspace that will complement the growing mix of commercial, leisure and hospitality uses emerging across this part of the city. As more projects reach completion over the coming months, the long-term vision for Pilgrim Street is becoming a reality.”

Sarah Homer, director general – corporate transformation at the DWP said: “It’s fantastic to see the progress being made at 1 Pilgrim Place. This development will provide a modern, collaborative workplace that supports the way DWP and our staff work while reinforcing our long-term commitment to Newcastle. We look forward to seeing the building completed and becoming part of this thriving new city-centre neighbourhood.”

Paul Anderson, project director at Bowmer + Kirkland, said: “Reaching this stage of construction is a testament to the commitment and expertise of everyone working on the project. Delivering a development of this scale within a busy city-centre environment requires close collaboration, and we’re proud of the progress made as we continue towards completion.”

Christopher Turnbull, principal at Avison Young, said: “1 Pilgrim Place is another significant milestone in the wider regeneration of Pilgrim Street. Avison Young is proud to support the programme through project management, property management, planning and agency services. The scheme will deliver one of the city’s most prominent office developments, helping to make a lasting contribution to Newcastle’s economy, business community and long-term commercial future.”

Oil prices fell on Monday as markets embraced hopes for the de-escalation of the Iran war, despite uncertainty over the prospects for a Federal Reserve interest rate hike.

President Donald Trump on Sunday signaled he was holding off on ordering fresh strikes against Iran and said he did so because U.S. allies in the Middle East have reached the outline of an agreement to end the war, adding it would “include the Immediate, Complete and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran’s nuclear threat.”

Trump indicated the negotiations would begin on Monday afternoon, which caused oil prices to slide on the potential deal to restore the flow of oil shipments through the Strait of Hormuz that have been constrained amid the threat of Iranian attacks and mines amid the conflict.

Prices for West Texas Intermediate crude, a key U.S. benchmark, were down about 6.2% during Monday morning, trading around $79.45 a barrel after a decline of about $5. Brent crude oil prices were down over 3.5% at around $79.30 a barrel.

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A spokesman for Iran’s foreign ministry said in a report by Reuters that no negotiations with the U.S. were occurring or scheduled, adding that the only ongoing discussions were with Oman over the management of the Strait of Hormuz.

Oil prices spiked above $110 a barrel earlier this year as the conflict disrupted oil shipments from the Middle East, as tanker traffic plummeted due to the threat of missile and drone strikes by Iran as well as mines laid in the key shipping lanes of the Strait.

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Before the outbreak of the conflict, oil prices were in the $60 to $70 a barrel range, and the rise caused gas prices in the U.S. to surge. The national average price for a gallon of regular gasoline was $4.095 as of Monday, up 7% from a month ago and 30% from a year ago, which has pressured household budgets.

Trump wrote in a post on his Truth social media platform that Chevron CEO Mike Wirth gave “all of the reasons that his company is doing so well,” in an interview with FOX Business’ Maria Bartiromo, but added that his administration has helped facilitate that success and urged him to lower prices for consumers.

WHITE HOUSE, GAS STATIONS POINT FINGERS OVER STUBBORN PRICES WHILE LOCATIONS THAT SLASHED PRICES SEE BOOM

“The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and stability, of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD! As an example, they threw Mike and Chevron out of Venezuela, but now they’re back, far bigger and stronger than ever before, expecting to make a fortune! That goes for other Oil Companies as well…and get your consumer (retail!) Oil Prices DOWN, NOW!” Trump wrote.

The White House has previously criticized gas stations for not lowering prices, accusing them of padding profit margins.

Groups representing smaller gas stations and energy marketers have pushed back on the argument, saying that retail prices are linked to oil prices and that they typically decline over several weeks after oil prices decline due to the need to turn over higher-cost inventory.

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Kansai Nerolac Paints reported a more than 5% rise in consolidated net profit for the June quarter, aided by healthy demand across decorative and industrial paints. The company approved Rs 601 crore of capacity expansion across three plants.

Consolidated net profit rose to Rs 228.41 crore from a year earlier, while revenue increased nearly 10% to Rs 2,374 crore.

Demand remained healthy in both decorative and industrial paints despite geopolitical tensions and was supported by the delayed onset of the monsoon, managing director Pravin Chaudhari said.

“Looking ahead, we anticipate that demand in both market segments will continue to remain strong despite an erratic monsoon and prevailing geopolitical situation,” he said. “Additionally, Diwali being later this year, should add a fillip to the festive demand,” he said.

Chaudhari said the geopolitical situation in West Asia disrupted supply chains and sharply increased raw material prices from March. While conditions improved midway through the June quarter, the company would continue to monitor the situation closely.

The company raised prices during the quarter to partly offset higher raw material costs. Total expenses rose more than 10% to Rs 2,116 crore, while consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) increased 7.7% to Rs 335.89 crore.
On a standalone basis, revenue rose 10% to Rs 2,299 crore, while Ebitda increased 8% to Rs 336 crore.The company announced its results after market hours on Monday. Its shares closed 3.6% higher at Rs 203.95 on the BSE.

Capacity expansion approved

The board has approved capacity expansion for industrial paints, powder coatings and industrial resins across three manufacturing facilities.

Industrial paint capacity will be expanded at the Sayakha, Bawal and Hosur plants at an investment of Rs 412 crore.

“In view of the estimated growth in automotive paint industry, capacity additions are being carried out,” the company said in an exchange filing.

The company will invest another Rs 189 crore to expand powder coating and industrial resin capacity at the Sayakha plant.

The projects will be funded through internal accruals and are expected to be completed in phases by the end of fiscal 2029.