LIC increases its stake in Bharti Airtel to 5%
The Life Insurance Corporation of India (LIC) has disclosed on Monday that it had acquired 500,000 shares of Bharti Airtel, from the open market transaction, on June 30, 2010. The company’s acquisition of 0.013% shares took the existing stake holding of 4.998% to 5.011% shares.
The addition of 500,000 shares worth Rs 13.17 crores to the insurers kitty of 18,98,06,173 took the tally to 19,03,06,173 shares.
Currently, the shareholding of the promoter and promoter group is 67.83% which includes Bharti Telecom with 45.44% stake, Pastel with 15.57% stake and Indian Continental Investment with 6.82% stake.
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