Tata Power: Will stake sale by LIC have impact?

In a disclosure to the exchanges on Wednesday, Tata Power Co said that Life Insurance Corporation has reduced its stake in the company by 2.02 per cent. Following the sale, the holding of LIC has come down to 10.61 per cent from 12.63 per cent. It would be interesting to know the name of the buyer. As of September end, 49 mutual funds held 7.27 per cent, 377 foreign portfolio investors 27.46 per cent, and 23 insurance companies 16.44 per cent in Tata Power.