Offshore oilfield services provider Great Offshore today said state-run Life Insurance Corporation (LIC) has sold about 1.29 per cent stake in the company for Rs 28.49 crore.
In a filing to the Bombay Stock Exchange (BSE), Great Offshore said LIC has sold 4,83,017 equity shares of the company at a price of Rs 590 per share.
The company, however, did not disclose further details of the transaction. It also did not mention about the mode and date of transaction.
The sold shares represents 1.29 per cent stake in Great Offshore. Shares of Great Offshore were trading at Rs 493.45, up by 1.25 per cent, on BSE in the late afternoon trade.
Private shipbuilders Bharati Shipyard and ABG Shipyard were in a neck-to-neck takeover battle for Great offshore -- a company created through de-merger of the offshore business of Great Eastern Shipping.
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