LIC reduces stake in HDFC Asset Management Company to 7% from 9.05%
Life Insurance Corporation of India (LIC) has decreased its shareholding in leading asset management company HDFC Asset Management Company (AMC) by buying additional shares via open market transactions.
On Friday, LIC informed in a regulatory filing to the stock exchanges that it has decreased its shareholding in HDFC Asset Management Company from 1,93,11,744 to 1,48,44,466 equity shares. With this, the life insurance major has increased its stake in HDFC AMC to 6.953 per cent from 9.053 per cent earlier.
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Published: 08 Dec 2023, 06:14 PM IST
