Lic Hikes Corporation Bank Stake To 27%

The Life Insurance Corporation has decided to hike its stake in the Mangalore-based Corporation Bank to 27 per cent from the prevailing 12.32 per cent. This will be through a preferential allotment of 2.4 crore equity shares of Rs 10 each.

The move could be a precursor to LIC taking over the government stake in Corporation Bank after the Banks