LIC picks up over 2% additional stake in Capri Global

LIC has raised its stake in Capri Global Capital by 2 percent over the last few months at an investment of Rs 257.37 crore

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LIC

New Delhi:  Life Insurance Corporation of India (LIC) has raised its stake in Capri Global Capital by 2 percent over the last few months at an investment of Rs 257.37 crore. Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, increasing its stake from 7.052 percent to 9.072 percent of the paid-up capital of the company, LIC said in a regulatory filing on Monday.

Capri Global caters to different segments like MSME, construction, finance, affordable housing and indirect retail lending segments.

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The new shares were acquired between June 10, 2022 to October 28, 2022 at an average cost of Rs 724.74 apiece.

As per regulatory norms, listed companies are required to disclose about change in shareholding of 2 percent and above.

LIC said the share purchase was an investment function through an open market purchase. Capri Global’s market capitalisation stands at Rs 13,014 crore.

The scrip of LIC closed at Rs 604 on BSE, up 1.86 percent. Capri Global settled 1.05 percent higher at Rs 750.

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