Country’s largest insurer, Life Insurance Corporation (LIC) has offloaded over 2% stake in Bank of Baroda in an open market sale during the last 2 months. The insurer had shed stake in a market sale during September 1 to November 29.
The life insurer has shed about 2.06% (4,73,41,007 shares) it held in the Bank, post which its holding came down to around 5.19% (11,96,77,919 shares). The insurer owned nearly 7.25% stake in the Bank equivalent to 16,70,18,926 shares before the open market sale.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.