{"id":2030,"date":"2016-02-27T08:09:07","date_gmt":"2016-02-27T08:09:07","guid":{"rendered":"http:\/\/mydiscover.net.in\/sms\/?p=2030"},"modified":"2016-02-27T08:09:07","modified_gmt":"2016-02-27T08:09:07","slug":"life-insurance-corporation-of-india-lic-now-holds-over-107-05-crore-shares-or-12-98-stakes-in-ntpc-according-to-a-stock-exchange-filing-reuters","status":"publish","type":"post","link":"https:\/\/mydiscover.net.in\/blog\/life-insurance-corporation-of-india-lic-now-holds-over-107-05-crore-shares-or-12-98-stakes-in-ntpc-according-to-a-stock-exchange-filing-reuters\/","title":{"rendered":"Life Insurance Corporation of India (LIC) now holds over 107.05 crore shares or 12.98% stakes in NTPC, according to a stock exchange filing. (Reuters)"},"content":{"rendered":"
\n
\"431064-lic-reuters\"<\/a>
LIC’s stake has increased from 10.03% at the end of the December quarter following its participation in NTPC offer for sale (OFS).<\/figcaption><\/figure>\n<\/div>\n
\nState-run LIC bought nearly 60% of the NTPC shares sold by the government to raise Rs 5,030 crore through a disinvestment, taking its stake in the country’s largest power producer to 12.98%.
\nLIC’s stake has increased from 10.03% at the end of the December quarter following its participation in NTPC offer for sale (OFS) which happened on February 23-24. The insurer bought over 24.31 crore shares or 2.95% of NTPC during the OFS.
\nLife Insurance Corporation of India (LIC) now holds over 107.05 crore shares or 12.98% stakes in NTPC, according to a stock exchange filing.
\nThe government had sold over 41.22 crore shares or 5% stakes in NTPC at a floor price of Rs 122 a piece.
\nOver 32.98 crore shares were offered to institutional buyers on February 23 while the remaining over 8.24 crore share were reserved for retail investors.
\nAlthough institutional investors’ portion was oversubscribed 1.8 times, the demand from retail investors was lacklustre with bids coming in for only 44% of the shares reserved for them. The unsubscribed portion of retailers was then offered to institutional buyers.
\nLIC has been salvaging the government’s public sector unit (PSU) stake sale plan. In August last year, it had bought nearly 90% of Indian Oil Corporation (IOC) shares sold by the government in its Rs 9,379-crore disinvestment.
\nOn Friday, the stock of NTPC closed up 2.41% or Rs 2.85 at Rs 121.35 per scrip on the BSE.<\/p>\n

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State-run LIC bought nearly 60% of the NTPC shares sold by the government to raise Rs 5,030 crore through a disinvestment, taking its stake in the country’s largest power producer to 12.98%. LIC’s stake has increased from 10.03% at the end of the December quarter following its participation in NTPC offer for sale (OFS) which <\/p>\n

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