LIC increases stake in Britannia

Life Insurance Corporation of India (LIC) has boosted its holdings in Britannia Industries Ltd., signaling a growing interest in the packaged foods industry. The acquisition was made through an open-market purchase.

LIC's holding in Britannia crossed 5% mark and stands at 5.007% as on October 18, 2023. The shares were acquired at an average cost of INR 4607.09 on October 18, 2023.

As LIC increases its holdings in this leading food company, it underscores the opportunities that the Indian packaged foods market offers for both investors and consumers.