LIC raises stake in IDFC First Bank to 2.68%.

Banking & Finance

The Life Insurance Corporation of India (LIC) shareholding in IDFC First Bank increased after the insurer acquired 18,60,34,900 shares at ₹80.63 apiece in a private placement offer by the lender.From 0.20% of the pre-issue paid-up capital, the shareholding has increased to 2.68% of the post issue paid-up capital of the bank, LIC said in a filing on Thursday. In terms of number of shares, the holding has increased from a little more than 1.42 crore to more than 20.02 crore.


      This acquisition aligns with LIC's strategy to diversify its investment portfolio effectively.

      The acquisition positions LIC as a significant shareholder in IDFC First Bank.

     

 

     


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