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LIC increases stake in Punjab National Bank to 14%

Post the acquisition of shares, Life Insurance Corporation's stake in PNB increased to 13.93%

Press Trust of India  |  New Delhi 

LIC increases stake in Punjab National Bank to 14%

The country's largest insurer LIC has increased its stake in to 13.93 per cent through qualified institutional placement.

Post the acquisition of shares, Life Corporation's stake in the bank, which earlier stood at 9.89 per cent, increased by 4.04 per cent to 13.93 per cent, according to a regulatory filing.

The mode of acquisition/sale was qualified institutional placement, the filing revealed.

First Published: Sun, December 24 2017. 19:06 IST
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