Life Insurance Corporation of India (LIC) has received an approval from the Reserve Bank of India (RBI) to acquire aggregate holding of up to 9.99% of the share capital or voting rights in HDFC Bank. The approval is granted pursuant to application made by LIC to RBI on November 30, 2023.
The approval requires the applicant to acquire major shareholding within a period of one year from the date of RBI’s letter, i.e., by January 24, 2025 and ensure that the LIC’s aggregate holding in HDFC Bank does not exceed 9.99% of the paid-up share capital or voting rights of the bank, at all times.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.
Company Name | CMP |
---|---|
ICICI Prudential | 545.00 |
Go Digit General Ins | 298.45 |
Star Health and Allied | 519.70 |
Life Insurance Corp | 1012.70 |
HDFC Life Insurance | 550.10 |
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