LIC Reduces Shareholding In HDFC Asset Management Company From 9.046% To 6.953%

LIC Reduces Shareholding In HDFC Asset Management Company From 9.046% To 6.953%

There a decrease of 2.093 per cent in holding during the period from December 14, 2022 to December 7, 2023.

FPJ Web DeskUpdated: Friday, December 08, 2023, 01:40 PM IST
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LIC Reduces Shareholding In HDFC Asset Management Company From 9.046% To 6.953% | Image: LIC (Representative)

Life Insurance Corporation of India (LIC) on Friday announced that the Corporation’s shareholding in HDFC Asset Management Company Limited has decreased from 1,93,11,744 to 1,48,44,466 Equity Shares, decreasing its shareholding from 9.046 per cent to 6.953 per cent of the paid-up capital of the said Company, the company announced through an exchange filing.

Indicative time period for completion of the acquisition

There a decrease of 2.093 per cent in holding during the period from December 14, 2022 to December 7, 2023.

Cost of acquisition

Holding decreased from 9.046 per cent to 6.953 per cent, a decreased of 2.093 per cent during the period from 14.12.2022 to 07.12.2023 at an averaae cost of Rs 2863.45.

LIC shares

The shares of Life Insurance Corporation of India on Friday at 1:33 pm IST were trading at Rs 773.95, down by 1.46 percent.

LIC Q2FY24 Earnings

The Profit after Tax (PAT) for the half year ended September 30th, 2023 was Rs.17,469 crore. The current period profit includes an amount of Rs.13,768 crore (Net of Tax), pertaining to the accretions on the available solvency margin, transferred from Non - Par fund to shareholders account.

The PAT for similar six month period ended September 30th,2022 was Rs.16,635 crore is not comparable since it included an amount of Rs.4,542 crore (Net of Tax) pertaining to the accretions on the Available Solvency Margin for the last quarter of FY 2021-22 which was transferred from Non-par fund to shareholders account on September 30th 2022.

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