InvestorQ : Why has LIC increased its stake in Bank of India?
Archita Jajjoo made post

Why has LIC increased its stake in Bank of India?

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Niti Shenoi answered.
3 months ago
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LIC added to its stake in Bank of India by nearly 4% and this was entirely via open market transactions. LIC picked up 15.9 crore shares of Bank of India via open market transactions. Prior to this purchase, LIC held 3.17% stake in BOI and now holds close to 7.05% stake in Bank of India. This was part of the investment in Bank of India as part of its Rs.2,550 crore qualified institutional placement. It is also timed with its likely exit from IDBI Bank.

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