Life Insurance Corporation of India (LIC) has picked up around Rs 200 crore worth of stocks from Unit Trust of India through off-market deals. The deals between the two institutions were priced at a 10 per cent discount to the average price of the shares on the National Stock Exchange and the Bombay Stock Exchange on the date of the transaction, said senior LIC officials.
Had UTI gone for market deals to sell its huge stakes in various corporates, this would have affected stock prices. Among the purchases, the largest single chunk is that of BSES. Though officials refused to give exact details of the consideration, they said LIC
