Life Insurance Corporation of India (LIC) has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through the open market transaction. With the sale of these shares, the stake of LIC in Asian Paints has now come down to 3 per cent from 5 per cent earlier.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.
