LIC ups stake in ICICI Bank to 9.38%

LIC ups stake in ICICI Bank to 9.38%
PTI
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First Published: Tue, Feb 24 2009. 11 33 AM IST
Updated: Tue, Feb 24 2009. 11 33 AM IST
Mumbai: Life Insurance Corporation of India has hiked its stake to 9.38% in the country’s largest private sector lender, ICICI Bank, after purchasing shares worth Rs145.62 crore through open market transaction.
In a disclosure to the Bombay Stock Exchange, ICICI Bank said LIC has purchased over 2.27 crore shares for Rs145.62 crore, representing 2.04% stake.
Before the purchase, LIC held 7.34% stake, while now it has over 10.44 crore shares representing 9.38% stake in the bank.
Shares of ICICI Bank were trading at Rs232.90, down 3.59% on the BSE on Tuesday.
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First Published: Tue, Feb 24 2009. 11 33 AM IST