LIC soars on infusing incremental capital in LIC Mutual Fund Asset Management
Life Insurance Corporation of India is currently trading at Rs. 678.30, up by 18.20 points or 2.76% from its previous closing of Rs. 660.10 on the BSE.
The scrip opened at Rs. 661.05 and has touched a high and low of Rs. 690.00 and Rs. 661.05 respectively. So far 504563 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 754.40 on 20-Dec-2022 and a 52 week low of Rs. 530.20 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 690.00 and Rs. 643.15 respectively. The current market cap of the company is Rs. 429340.84 crore.
The promoters holding in the company stood at 96.50%, while Institutions and Non-Institutions held 0.91% and 2.59% respectively.
Life Insurance Corporation of India (LIC) has infused an incremental capital on September 05, 2023 in LIC Mutual Fund Asset Management in Rights Issue (Fully paid-up Equity Shares of Rs 10,000 each) pursuant to the scheme of takeover/ merger transaction of IDBI Mutual Fund with LIC Mutual Fund Asset Management. Each equity share has been offered at an Issue Price of Rs 2,58,851 each. There will be no change in shareholding percentage after Rights Issue. 956 shares will be issued to LIC of India.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and investment company.
