LIC has acquired over a 2 per cent stake in Bharat Petroleum Corporation (BPCL) for nearly Rs 1,598 crore since December last year. The company’s shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding from 7.03 per cent to 9.04 per cent of the paid-up capital of the company during the period from December 28, 2021, to September 26, 2022. The shares were purchased in the ordinary course of the transaction through the open market at an average cost of Rs 336.43 per share.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and investment company.
