New Delhi: Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 percent through open market acquisition. LIC bought 1.9 crore shares or 2.01 percent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing.
The insurer bought the additional shares between November 21, 2022 and June 6 for about Rs 2,000 crore. Following this, holding in Tech Mahindra Ltd increased to 8.84 percent, it said. Prior to the acquisition, LIC held 6.86 percent stake in Tech Mahindra Ltd.
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