LIC announces dilution of stake in MOIL Ltd.

The Life Insurance Corporation of India (LIC) has disclosed a dilution of its holdings in MOIL Ltd. LIC's stake in MOIL, an industrial minerals company, has decreased from 9.012% to 6.931% of the paid-up capital of the firm, marking a 2.081% reduction during the period from September 27, 2017, to October 11, 2023.

LIC's investment in MOIL Ltd, valued at INR 5,282.48 crore, does not fall within related party transactions, and no governmental or regulatory approvals were required. This decrease in holdings reflects LIC's investment strategy, with the shares being disposed of through open market sales at an average cost of INR 218.73.