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LIC Sells Over 2% Stake In Power Grid In 5 Months
The shares were sold at an average price of Rs 220.40 per share during the period through an open market sale in an ordinary course of transaction
Photo Credit : Reuters
The Life Insurance Corporation of India (LIC) on Wednesday informed that it has sold over 2 per cent of its holding in Power Grid Corporation over the past five months for Rs 3,079.43 crore.
Between 18 May, 2022 and 11 October, 2022, there has been a decrease of 2.033 per cent in the holding.
Sebi mandates listed companies to disclose changes in shareholding of 2 per cent and above.
"The corporation's shareholding in Power Grid Corporation has diluted from 36,99,02,170 to 23,01,82,028 equity shares decreasing its shareholding from 5.303 per cent to 3.3 per cent of the paid-up capital of the said company," LIC said in a regulatory filing.
The shares were sold at an average price of Rs 220.40 per share during the period through an open market sale in an ordinary course of transaction, LIC said.