LIC raises its stake in Biocon from 4.982% to 5.023%

The Life Insurance Corporation of India (LIC) has increased its shareholding in Biocon Ltd, according to an exchange filing made. In respect to the updated disclosure regulations, LIC's ownership has risen from 5,98,14,429 shares to 6,03,14,429 shares.

"The Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of Biocon Ltd. (“the Company”) from 5,98,14,429 to 6,03,14,429, i.e., 4.982% to 5.023% of the paid-up capital of the said Company," it said.

This adjustment boosts LIC's stake in Biocon from 4.982% to 5.023% of the company's total equity.

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Additionally, the LIC has reduced its stake in DCM Shriram Industries by more than 2% over the past three years. As of September 13, 2024, LIC’s holding in DCM Shriram has decreased from 58,06,760 shares (6.675%) to 40,52,635 shares (4.659%). The shares were sold at an average price of Rs 110.072.

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