LIC plans to acquire 5% stake in L&T: Report

28 Feb 2017

Life Insurance Corporation of India (LIC), a dominant player in both debt and stock markets, is reportedly planning to acquire additional 5% stake in Larsen & Toubro (L&T) for Rs 6,500 crore. The insurer, which already owns 16% stake in L&T, has received the regulator's approval to buy the additional stake.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $16 billion in revenue. It operates in over 30 countries worldwide.

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