Pipavav Defence and Offshore Engineering yesterday (April 17, 2012), said Life Insurance Corporation of India ( LIC) has increased its stake in the company with fresh acquisition of shares worth Rs10.42 crore.
In a BSE filing, Pipavav said LIC bought 1.3 million equity shares, or 0.188% stake, in the company on April 12 through open markets for Rs10.42 crore from the National Stock Exchange ( NSE).
With the acquisition, LIC now owns 3,48,49,260 shares in Pipavav. Its current holding in the company stood at 5.041%. It had 3,35,49,260 shares before the transaction.
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In a BSE filing, Pipavav said LIC bought 1.3 million equity shares, or 0.188% stake, in the company on April 12 through open markets for Rs10.42 crore from the National Stock Exchange ( NSE).
With the acquisition, LIC now owns 3,48,49,260 shares in Pipavav. Its current holding in the company stood at 5.041%. It had 3,35,49,260 shares before the transaction.
....more info