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LIC reduces stake in Shipping Corporation of India
Oct 11, 2023
Life Insurance Corporation of India (LIC) has disclosed a substantial reduction in its stake in the "SHIPPING CORPORATION OF INDIA LTD." This development, in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, signifies a strategic move.
LIC's stake in the Shipping Corporation of India has been diluted from 2,80,98,197 to 1,85,92,050 equity shares. This decrease has led to LIC's shareholding dropping from 6.032% to 3.991% of the paid-up capital of the company. While this marks a shift in LIC's position, the insurer remains a key player in the market.
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