LIC raises its stake in Tech Mahindra by 2% to 8.8%
LIC raises its stake in Tech Mahindra by 2% to 8.8%

LIC raises its stake in Tech Mahindra by 2% to 8.8%

LIC has raised its stake in IT firm Tech Mahindra Ltd by about 2 percent through open market acquisition
Published on

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.

LIC raises its stake in Tech Mahindra by 2% to 8.8%
LIC opens new satellite office in Lakhipur, Silchar

LIC's holding in Tech Mahindra Ltd increased to 8.84%

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.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

logo
PSU Watch
psuwatch.com