New Delhi: The country’s largest insurer Life Insurance Corporation of India (LIC) has sold over 2% stake in Maruti Suzuki India Ltd over a period of time, thereby reducing its total holding in the car maker to a little over 10%.
LIC sold a total of 58,29,103 shares of the company aggregating 2.02% stake between 24 August 2009 and 11 November through the open market, Maruti Suzuki India said in a filing to BSE.
After the sale, LIC’s holding in Maruti Suzuki stands at 10.78%, it said.
Before the transaction, LIC held 12.79% stake in Maruti Suzuki, with a total of 3,69,64,231 shares, it added.
The equity share capital/total capital of Maruti Suzuki remains at Rs.144.46 crore after the transaction, the company said.
Shares of Maruti Suzuki closed at Rs.1,492 per share on BSE, up 0.01% from the previous close.