LIC cuts stake in Bank Of Baroda to 5.19%

Published On: 30, Nov 2017 | Source:

has offloaded over 2 per cent stake in in an during the last 2 months.

Corporation (LIC) owned nearly 7.25 per cent stake in equivalent to 16,70,18,926 shares before the open market sale, said in a regulatory filing.

The public sector bank said shed stake in a market sale from September 1 to November 29.

The life insurer has shed about 2.06 per cent (4,73,41,007 shares) it held in the bank, post which its holding came down to around 5.19 per cent (11,96,77,919 shares).

Calculated on the weighted average price (WAP) of Rs 155.24 per share during the 62 days period, the valuation of the sale comes around Rs 734.92 crore.

stock on Thursday closed 1.34 per cent down at Rs 169.05 on