LIC reduces its shareholding in Siemens and rating agency ICRA, bringing ₹1,983 Cr



Jul 19, 2022 07:00 pm

Today, LIC announced that it has reduced its shareholding in rating agency ICRA and manufacturer of heavy electrical equipment Siemens for more than ₹1,983 crore.


LIC said its holding in Siemens decreased by more than 2% from October 14, 2020, to July 18, 2022, at an average cost of ₹2,701.19 per piece. This translates into LIC getting more than ₹1,947.81 crore by selling shares of the heavy electrical equipment maker.


Separately, LIC said it had reduced its stake in ICRA from 5,60,863 equity shares to 3,31,434 shares from September 6, 2021, to July 18, 2022, at an average cost of ₹1,541.85, garnering ₹35.37 crore from the sale.


LIC scrip closed at ₹688.75 apiece on the BSE, down by 1.09% from the previous close.

The scrip of Siemens ended 1.03% lower at ₹2,686.15, while ICRA stock closed 0.17% up at ₹4,053.35.