Business Standard

LIC raises stake in Patanjali Foods

Image

Life Insurance Corporation of India (LIC) informed that it increased its stake in Patanjali Foods to 1,81,73,377 equity shares from 1,80,48,377 shares increasing its shareholding to 5.020% from 4.986% of the paid up capital of the company.

The move involved the acquisition of 1,25,000 equity shares through an open market purchase at an average price of Rs 1,764.96 per share via open market purchase. LICs holding in the Patanjali Foods touched 5% on 26 November 2024.

Patanjali Foods (formerly known as Ruchi Soya Industries) is one of India's top FMCG player in India. The company is present in Edible Oils, Food & FMCG and Wind Power Generation segments via a bouquet of brands like Patanjali, Ruchi Gold, Nutrela, etc.

 

LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.

Shares of LIC rose 0.57% to Rs 912.55 while Patanjali Foods shed 0.11% to Rs 1,752.95 on the BSE.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 27 2024 | 12:11 PM IST

Explore News