LIC Reduces Shareholding In MOIL From 9.012% To 6.931%

LIC Reduces Shareholding In MOIL From 9.012% To 6.931%

There was a decrease of 2 percent in holding during the period from 27.09.2017 to 11.10.2023

FPJ Web DeskUpdated: Thursday, October 12, 2023, 01:27 PM IST
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LIC Reduces Shareholding In Shipping Corporation Of India From 6.032% To 3.991% | Image: LIC (Representative)

Life Insurance Corporation of India (LIC) on Thursday announced that t Corporation’s shareholding in "MOIL LTD.” has diluted from 1,83,38,326 to 1,41,02,808 Equity Shares, decreasing its shareholding from 9.012 percent to 6.931 percent of the paid-up capital of the said Company, the company said through an exchange filing.

Indicative time period for completion of the acquisition

There was a decrease of 2 percent in holding during the period from 27.09.2017 to 11.10.2023

Cost of acquisition

Holding decreased from 9.012 percent to 6.931 percent, a decrease of 2.081 percent during the period from 27.09.2017 to 11.10.2023 at an average cost of Rs 218.73.

MOIL Limited is primarily engaged in mining of manganese ore and is the largest manganese ore producer in the country.

Life Insurance Corporation of India shares

The shares of Life Insurance Corporation of India on Thursday at 21:20 pm IST were trading at Rs 640.55, up by 0.50 percent.

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