State insurer Life Insurance Corporation of India (LIC) has said that its stake in hydro power generating company NHPC Limited has come down to 5.2%. LIC has sold more than 20 crore shares of government company NHPC. LIC has said in a regulatory filing that between March and October this year, it has sold shares worth Rs 700.79 crore in NHPC Ltd.
LIC earlier had more than 72 crore shares
The country’s largest insurance company LIC has said that its shareholding in NHPC Limited has come down from 72,62,11,315 to 52,26,11,195 equity shares. After the share sale, LIC’s stake in NHPC Ltd now stands at 5.203 per cent, from 7.230 per cent earlier. Shares of NHPC Ltd have gained 29% so far this year. On the other hand, NHPC Ltd’s shares have climbed nearly 25% in the last one year.
NHPC shares sold at an average price of Rs 34.42
According to regulatory filings, LIC has sold 20,36,00,120 shares of hydro power generating company NHPC Limited between March 17, 2022 and October 18, 2022 at an average price of Rs 34.42. The insurance company has sold these shares in the open market sale. Listed companies are required to notify the exchange of any change in their shareholding of 2% or above. Shares of Life Insurance Corporation of India (LIC) closed at Rs 607.15 on the Bombay Stock Exchange on 19 October.
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