The Life Insurance Corporation of India (LIC) holds shares worth more than Rs 9 lakh crore to add to its financial strength. It boasts of stocks of corporate giants such as Reliance Industries, ITC and L&T, among others on its portfolio. To raise Rs 2300 crore, the LIC has sold its 2 per cent stake in Bajaj Auto via 56.6 lakh shares.
The share sale to cut down its holding in the auto giant, was conducted by LIC between November 4, 2022 and November 16, 2022. The stocks were sold at a price of Rs 4,069 each.
