LIC buys 3.9% stake in Bank of India via open market acquisition
- Life Insurance Corporation of India (LIC) has bought 3.9 percent (15,90,07,791 shares) of the Bank of India through open market acquisition on September 2, 2021.
- Before this acquisition, LIC held about 3.17 percent stake in the Bank of India. After this acquisition, LIC now has 7.05 percent, equivalent to 28,92,87,324 shares of Bank of India.
- This information was shared by the Bank of India to SEBI. As per SEBI guidelines, companies have to inform the stock exchanges when an entity holds more than 5 percent shares in a listed company.
Points to remember:
- LIC has bought 3.9% stake recently in which bank?
- Companies have to inform the SEBI when an entity holds more than ____ percent shares in a listed company?= 5%
Source: Business Standard