India’s largest insurance company, Life Insurance Corporation of India (LIC), has cut its stake in Mahanagar Gas Ltd. This information was shared with the stock exchanges on September 27, 2024.
LIC lowered its shareholding from 89.19 lakh shares to 68.54 lakh shares, reducing its ownership from 9.03% to 6.94% of the company’s paid-up capital.
This reduction was reported in line with regulatory requirements under SEBI’s rules for listed companies. LIC also posted the details on its official website for transparency.
Market experts will be watching to see how this change affects both LIC and Mahanagar Gas Ltd in the near future.
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