Life Insurance Corporation of India (LIC) has increased its shareholding in equity shares of Bank of Maharashtra. The Corporation has increased its shareholding in Bank of Maharashtra from 4.05% (pre allotment) to 7.10% (post allotment) upon allotment of 25,96,86,663 equity shares in Qualified Institutional Placement (QIP) of the Bank of Maharashtra.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.