Life Insurance Corporation ( LIC) yesterday (May 02, 2012), increased stake in Pipavav Defence and Offshore Engineering to 5.63% with fresh acquisition of shares worth over Rs171 crore through an open market transaction.
According to the bulk deal data of stock exchanges, country's largest life insurer LIC bought 2.15 crore shares of Pipavav at Rs79.50 apiece, valuing the the deal at Rs171.21 crore.
With the acquisition, LIC now owns 5.63 crore shares in private shipbuilder Pipavav. Prior to this acquisition, LIC held 3.48 crore shares, or 5.04% stake in Pipavav.
....more info
According to the bulk deal data of stock exchanges, country's largest life insurer LIC bought 2.15 crore shares of Pipavav at Rs79.50 apiece, valuing the the deal at Rs171.21 crore.
With the acquisition, LIC now owns 5.63 crore shares in private shipbuilder Pipavav. Prior to this acquisition, LIC held 3.48 crore shares, or 5.04% stake in Pipavav.
....more info