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As on: Oct 18, 2019 09:12 AM
LIC cuts 2% stake in Axis Bank
25-Jun-19   09:31 Hrs IST

State-owned LIC has sold over 5.25 crore shares, representing about 2% stake, of Axis Bank through open market transaction.

With the sale of these shares, stake of LIC (Life Insurance Corporation of India) in the private sector bank has now come down to 10.2% from 12.21% earlier, as per the BSE filing by Axis Bank.

LIC sold 5,25,06,202 shares through open market, the filing said without disclosing the sale value. The total sale value could not be ascertained as the insurer sold the shares over a period of time.