LIC picks up 4% stake in Bank of India via open market transaction

State-owned Bank of India on Friday said LIC has picked up nearly 4 per cent equity shares of the bank through an open market transaction a day earlier.

LIC has picked up nearly 3.9 per cent (15,90,07,791 shares) of the bank through open market acquisition on September 2, 2021, Bank of India said in a regulatory filing.

Before the latest acquisition of shares in the bank, LIC held over a 3.17 per cent stake in the state-owned bank. The bank said that LIC's stake in Bank of India has now increased to 7.05 per cent, equivalent to 28,92,87,324 shares.

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