LIC announced on Thursday that it had sold 2 percent of its stake in Sun Pharma for Rs 4,699 crore in an open market transaction.
Following the share sale, there is a decrease of 2 percent decline in holding between July 22, 2022, and September 13, 2023.
In a regulatory filing, LIC stated, “Corporation’s shareholding in Sun Pharma has diluted from 12,05,24,944 to 7,22,68,890 equity shares decreasing its shareholding from 5.023 percent to 3.012 percent of the paid-up capital of the said company”.
“The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction”, LIC added.
Sun Pharma manufactures, develops, and markets a diverse range of branded and generic formulations, as well as Active Pharma Ingredients (APIs).
LIC, the country’s largest state-owned insurer, finished at Rs 660.80 per share on BSE, up 0.27 percent. Sun Pharma shares closed 0.8 percent higher at Rs 1,143.60.
Also read: Maruti Suzuki Collaborates With Indian Bank To Offer Dealers Financing Options
Posting a photo of the meeting on the social media platform X, Acharya Pramod Krishnam…
Colonel Mustafa urges youth to use geography actively for disaster management, policy, and national development.
India names a record 111-member team for Deaflympics 2025, competing across 11 sports disciplines.
PM Modi, Amit Shah, and leaders extend birthday wishes to Bharat Ratna LK Advani.
Justice Vikram Nath praised PM Modi’s vision for inclusive, tech-driven justice and legal empowerment.
Justice Surya Kant urged empathetic, tech-driven legal aid reforms to make justice accessible and inclusive.