ICICI Prudential Life Insurance has bought 3 lakh shares of Jagran Prakashan through an open market transaction.
The life insurance company now holds close to 1.67 crore shares of the company. Post the acquisition of the 3,00,000 shares, the insurer’s stake in the company has risen to 5.06% from 4.97% earlier.
The acquisition was done on September 12, 2013 through the National Stock Exchange.
The stock of Jagran Prakashan was up 0.5% and was trading at Rs 83 per share on the BSE. While on the NSE, the stock was trading at Rs 82 per share, down 0.9%.
On Tuesday, the broader market BSE Sensex and NSE Nifty were down 0.3 and 0.2% respectively.
Jagran Prakashan, owner of Dainik Jagran, Mid-day and Naiduniya among others is a Kanpur-based media conglomerate. The company has media businesses spanning print, out of home, digital and activations. It owns 9 newspaper titles in 5 different languages across 15 states with over 100 editions.
