LIC's shareholding decreases in Empire Industries Ltd

New Delhi: State-owned Life Insurance Corporation (LIC) said in a regulatory filing on Tuesday that it has decreased its shareholding in "Empire Industries Limited". LIC's equity shares in the company have decreased from 5,23,111 to 3,99,554, leading to a reduction in its ownership stake from 8.71 percent to 6.65 percent of the paid-up capital of Empire Industries Limited.

Mkt capitalisation of Empire Industries stood at Rs 401.1 cr

Further, the filing also noted that the market capitalisation of Empire Industries Ltd is Rs 401.10 crores. Market capitalisation is calculated by multiplying the current market price per share by the total number of outstanding shares of a company. In this case, the market capitalisation of Empire Industries Ltd is Rs 401.10 crores, indicating the approximate total value of the company's shares available for trading in the market.

Nature of disinvestment

The filing also said that the corporation has reduced its shareholding solely for investment purposes in the ordinary course of the transaction. Further, it noted that the holding decreased during the period from October 12, 2022 to June 12, 2023 at an average cost of Rs 689.83.

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