LIC increases its shareholding in Coforge Ltd by over 5%

New Delhi: Life Insurance Corporation (LIC) stated in a regulatory filing on Tuesday that the "corporation's shareholding in Coforge Ltd has increased from 30,38,803 to 30,73,908 equity shares, increasing its shareholding from 4.976 percent to 5.033 percent of the paid-up capital of the said Company."

"Market capitalisation of Coforge Ltd is Rs 23,917.14 crores," it added. "The shares were bought through open market purchase," said the filing. LIC bought securities at or close to the market price. It also stated that its "holding in the company crossed five percent on January 16 and acquisition of shares was done at an average cost of Rs 3,901.28."

Adding to this, the filing also stated that Coforge is an IT services company, providing end-to-end software solutions and services.

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