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LIC increases stake in NMDC to 10.12%

06 May 2015 Evaluate

Life Insurance Corporation of India (LIC) has increased its stake by 2% in the state-owned iron ore mining company NMDC. With the purchase of additional 79.83 million shares, the LIC's share holding in the company rose to 10.124% from the previous 8.111%.

The LIC has bought these shares at a total value of Rs 1,116.17 crore. Government of India as the promoter the company owns 80% equity in NMDC while the state-owned life insurer stands second in terms of the share holding in the company.

As on March 31, 2015, LIC together with LIC Pension Plus Mixed Fund held 9.96% equity. With the new purchase of shares the total shares held by LIC surpasses 10% leaving less than 10% shares in the hands of other investors under public category.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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