Foreign fund buys 16 mn shares in LIC Housing

Foreign fund house Copthall Mauritius Investments today bought 16 million shares of LIC Housing Finance from the open market for about Rs 410 crore.

Foreign investor CLSA (Mauritius Ltd), one of the shareholders of LIC Housing Finance, offloaded 16,039,061 shares of the housing finance to Copthall Mauritius Investments, according to block deal data available on the stock exchanges.

Copthall Mauritius Investments purchased 16,039,061 shares of LIC Housing Finance for Rs 255.35 a piece, valuing the transaction at Rs 409.55 crore from the open market.

As of December 31, 2011, Copthall Mauritius Investments was holding 23.2 million shares or 4.91% stake in LIC Housing Finance. At the same period, CLSA (Mauritius) Ltd held 22.3 million equities or 4.70% ownership in the company.

LIC is the largest shareholder in LIC Housing Finance with 36.54% stake.

Shares of LIC Housing ended the day at Rs 268.95 apiece, up 5.37% over their previous close on the BSE.