LIC offloads over 2% shares in India Cement via open market transactions

Life Insurance Corporation of India (LIC) on Wednesday said it has offloaded a little over 2 per cent stake in India Cement through open market transactions between November 2007 and July 2023.

"...Corporation's shareholding in 'India Cement Ltd' has diluted from 18,205,665 to 11,877,759 equity shares decreasing its shareholding from 5.875 per cent to 3.833 per cent of the paid-up capital of the said company," LIC said in a regulatory filing.

These shares were sold at an average price of Rs 191.59 apiece during the period from November 21, 2007 to July 4, 2023. The holding decreased from 5.875 per cent to 3.833 per cent, a decline of 2.042 per cent, it said.

Shares of LIC closed 0.81 per cent higher at Rs 626.95 apiece on the BSE.