LIC increases shareholding in State Bank of India

Life Insurance Corporation of India (LIC) on Monday, July 21, said the company has raised its stake in

via qualified institutional placement (QIP). The insurance company has increased its stake to 9.49% from an earlier 9.21%. LIC’s holding in SBI has increased to 87.58 crore (87,58,59,380) equity shares or 9.49 per cent from 81.46 crore (81,46,59,869) equity shares or 9.21 per cent of the paid-up capital of the bank, according to a regulatory filing. SBI has raised Rs 25,000 crore through Qualified Institutional Placement (QIP) to fund business growth. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.