LIC trims stake in Maruti to 6.22%

The insurer has sold 61,000 shares over a period of two years

State-owned insurer LIC has sold over 2 per cent stake in Maruti Suzuki India reducing its holding to 6.22 per cent in the the country's largest car maker.

LIC has sold 61,31,781 shares over a period of two years between May 17, 2013 and July 29, 2015 in the open market, Maruti Suzuki India said in a filing to the BSE.

Before the sale, LIC held 8.24 per cent in Maruti Suzuki.

At today's closing price of Rs 4,283, the shares sold by LIC are worth over Rs 2,625 crore.

Maruti shares today ended 0.21 per cent higher at Rs 4,283 apiece from the previous close on the BSE.