State-owned Life Insurance Corporation (LIC) has sold about 2% stake in Tata Global Beverages for Rs 161 crore over 19 months starting August 2010.
Tata Global Beverages said in a filing to the BSE that LIC has offloaded more than 12.7 million shares, representing 2.05%.
These shares, worth more than Rs 161.33 crore were sold between August 2, 2010 and February 21, 2012. All the transactions were through market sale.
Prior to the sale of these shares, LIC held 15.89% stake in Tata Global Beverages.
Shares of the company today closed at Rs 120.25 on the BSE, up 6.13% from its previous close.
