Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 per cent through open market acquisition.
LIC bought 1.9 crore shares or 2.01 per cent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing.
The insurer bought the additional shares between November 21, 2022 and June 6, 2023 for about Rs 2,000 crore.
Following this, holding in Tech Mahindra Ltd increased to 8.84 per cent, it said.
Prior to the acquisition, LIC held 6.86 per cent stake in Tech Mahindra Ltd.
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First Published: Jun 07 2023 | 8:52 PM IST
