Life Insurance Corporation of India (LIC) has pared its stake in Exide Industries to 3.51% by divesting greater than 1.70 crore shares in about 30 months up to July 6.
From 5.51% on December 17, 2020, the holding in the battery maker has been decreased by two proportion factors by means of open market sale at a median value of ₹179.84 per share, the insurer, which is without doubt one of the largest institutional buyers, mentioned in a inventory change submitting on Friday.
Exide Industries shares closed flat at ₹247.75 apiece on the BSE. According to the shareholding sample in the corporate, up to the quarter ended March 2023, LIC’s holding was 4.29%.
