Life Insurance Corporation of India (LIC) has divested its stake in two companies, Siemens and rating firm Icra, for over Rs 1,983 crore. Its holding in Siemens decreased by over 2 per cent from October 14, 2020, to July 18, 2022, at an average cost of Rs 2,701.19 per piece. This translates into LIC getting over Rs 1,947.81 crore by selling shares of the heavy electrical equipment maker.
Separately, it has reduced its stake in Icra from 5,60,863 equity shares to 3,31,434 shares from September 6, 2021, to July 18, 2022, at an average cost of Rs 1,541.85, garnering Rs 35.37 crore from the sale.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and investment company.
