Life Insurance Corporation of India (LIC) has acquired 4.66% stake in Bharat Heavy Electricals (BHEL) from the government. The insurance major has bought 114.1 million shares of BHEL at Rs 165.55 each in a block deal for Rs 1,889 crore.
Following the block deal, the government’s stake in the capital goods maker has come down to 63.05%.
As on December 31, 2013, the promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 27.59% and 4.69% stake in the company, respectively.