LIC offloads 2% in Axis Bank, BHEL

Our Buerau Mumbai | Updated on June 24, 2019 Published on June 24, 2019

The Life Insurance Corporation of India has offloaded 2 per cent stake in Axis Bank and Bharat Heavy Electricals each.

According to a regulatory filing on Monday, LIC sold 2.004 per cent stake or 5.25 crore shares in Axis Bank, bringing down its total holding in the private sector lender to 10.209 per cent. The transaction was carried out in the open market between March 21, 2014 and June 20, 2019. Following the stake sale, LIC’s holding in Axis Bank fell to 10.209 per cent.

Meanwhile, in a separate regulatory filing, BHEL said that LIC sold 2.001 per cent of its holding in the company amounting to 6.96 crore shares through the open market. With this, its total holding has come down to 11.701 per cent in BHEL. The stake sale happened between April 4 and June 20.

Published on June 24, 2019
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