In a filing to the BSE, Bharat Forge said LIC sold 47.79 lakh shares aggregating 2.053% stake in the company through the open market between January 16 and March 28 this year.
Before the sale, LIC's holding in Bharat Forge was 5.205%. After the transaction, LIC now holds 73.38 lakh shares of Bharat Forge, which amounts to 3.152% stake in it.
Shares of Bharat Forge were trading at Rs 418.80 per scrip in the afternoon trade, down 0.68% from the previous close on the BSE.