LIC picks up over 2% additional stake in Capri Global Capital for Rs 257 cr

Life Insurance Corporation of India (LIC) has raised its stake in Capri Global Capital by 2 per cent over the last few months at an investment of Rs 257.37 crore.

Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, increasing its stake from 7.052 per cent to 9.072 per cent of the paid up capital of the company, LIC said in a regulatory filing on Monday.

Capri Global caters to different segments like MSME, construction, finance, affordable housing and indirect retail lending segments.

The new shares were acquired between June 10, 2022 to October 28, 2022 at an average cost of Rs 724.74 apiece.

As per regulatory norms, listed companies are required to disclose about change in shareholding of 2 per cent and above.

LIC said the share purchase was an investment function through an open market purchase. Capri Global's market capitalisation stands at Rs 13,014 crore.

The scrip of LIC closed at Rs 604 on BSE, up 1.86 per cent. Capri Global settled 1.05 per cent higher at Rs 750.50.