Life Insurance Corporation of India (LIC) has offloaded 34.63 lakh equity shares or 2.04 percent stake in Glaxosmithkline Pharmaceuticals via open market transactions. With this, LIC's shareholding in the company reduced to 4.35 percent, down from 6.4 percent earlier.
GlaxoSmithKline Pharmaceuticals is an Indian subsidiary of GlaxoSmithKline plc. The company business has a broad portfolio of innovative and established medicines, with leadership positions in respiratory and HIV.