Life Insurance Corporation (LIC) increased its shareholding in diversified non-banking financial company (NBFC) from 7.05 per cent to 9.07 per cent, the corporation said in a filing. LIC increased its shareholding from 1,24,00,000 to 1,59,51,171 equity shares – an increase of over 2 per cent in four months.
“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation’s shareholding in “CAPRI GLOBAL CAPITAL LTD.” has increased from 1,24,00,000 to 1,59,51,171 Equity Shares increasing its shareholding from 7.052% to 9.072% of the paid-up capital of the said Company,” the company said.
The corporation said that there has been an increase of more than 2 per cent in holding during the period from 10.06.2022 to 28.10.2022.
LIC said that the holding increased 2.20 per cent during the period at an average cost of Rs 724.24.
LIC, separately, has plans to transfer $22 billion from its non-participating fund to its shareholders’ fund, as mentioned in a Reuters report. Shares of LIC rallied 4.1 per cent to Rs 617.1 in intraday trade on BSE on Monday.
The NBFC, Global Capital, has presence across different segments like MSME, construction finance, affordable housing, and indirect retail lending segments.
Also read: LIC plans to transfer nearly $22 bn to revive battered stock: Report