LIC buys over 2% stake in BPCL for nearly Rs 1,598 crore
NEW DELHI: LIC has acquired over a 2 per cent stake in state-owned refiner Bharat Petroleum Corporation Ltd (BPCL) for nearly Rs 1,598 crore since December last year.
The state-owned life insurance behemoth in a regulatory filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding from 7.03 per cent to 9.04 per cent of the paid-up capital of the company.
As per Sebi’s regulatory norm, listed companies have to disclose shareholding in excess of 2 per cent.
