Life Insurance Corporation has raised its shareholding in private sector lender IDFC First Bank by 0.2 per cent to 2.68 per cent and The private placement offer took place on June 30.
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Life Insurance Corporation (LIC) on Thursday said it has raised its shareholding in private sector lender IDFC First Bank by 0.2 per cent to 2.68 per cent. To raise the stake, the state-owned insurance behemoth has invested Rs 80.63 crore in the lender through private placement offer.
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“Life Insurance Corporation of India has increased its shareholding in equity shares of IDFC First Bank Limited from 1,42,01,484 to 20,02,36,384, on preferential basis, i.e., 0.20 per cent of the pre-issue paid-up capital to 2.68% of the post issue paid-up capital of the said company (IDFC),” LIC said in a regulatory filing.
The private placement offer took place on June 30.
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LIC’s shares on Thursday closed higher by Rs 22.25 or 2.25 per cent at Rs 1,010.05 apiece on the BSE, while IDFC First Bank’s shares were up by Rs 0.32 or 0.40 per cent to close at Rs 81.19 apiece on the BSE.
