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Sebi partially freezes LIC's voting rights in National Stock Exchange

State-owned life insurance giant deemed trading member; may have to divest holding to below 5 per cent

Topics
Sebi | LIC  | IDBI Bank

Samie Modak  |  Mumbai 



sebi
The private sector and non-financial entities constitute only 20 per cent of the total issuances, with the remaining being state-owned firms

Life Insurance Corporation of India's (LIC) acquisition of has led to unintended consequences. The market regulator Securities and Exchange Board of India (Sebi) has partially frozen LIC’s voting rights in the National Stock Exchange (NSE). The reason being the 5-per cent shareholding cap on trading members. While is not a trading member, following its acquisition of — a trading member of NSE — it is deemed as one.

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First Published: Fri, September 20 2019. 14:56 IST

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