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Life Insurance Corporation of India on Wednesday said that its shareholding in hydro power generator NHPC has come down to 5.2 per cent.
LIC in its regulatory filing informed that it has it has sold share worth ₹700.79 crore between March and October this year.
The country’s largest insurer, Life Insurance Corporation of India (LIC) said that its shareholding shareholding in NHPC Ltd has diluted from 72,62,11,315 to 52,26,11,195 equity shares. This decreases its shareholding from 7.230 per cent to 5.203 per cent of the paid-up capital of the company, LIC said in a regulatory filing.
As per the filing, the insurer sold 20,36,00,120 shares of the company at an average price of ₹34.42 apiece from March 17, 2022 to October 18, 2022.
The shares were sold in open market sale in the ordinary course of transaction, which is an investment function.
According to rules, Listed companies are required to disclose about change in shareholding of 2 per cent and more.
NHPC is involved in generation and sale of bulk power to various power utilities.
Life Insurance Corporation of India shares was down by 0.12 per cent to close at ₹607.15 apiece on BSE.
NHPC stock closed 4.29 per cent down at ₹40.20 on BSE.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
