LIC increases stake in Central Bank amid expanded OFS
after close1 source ↓written by the desknot a recommendation
- after acquiring
- 6.06%
- after acquiring
- 26.26 crore equity shares
- stake
- 2.9%
- 8% stake sale
Life Insurance Corporation of India (LIC) has raised its stake in Central Bank of India to 6.06% after acquiring 26.26 crore equity shares, representing an additional 2.9% stake. This purchase occurred as the government expanded the ongoing offer for sale (OFS) to an 8% stake sale.
The increase in LIC's holding may signal confidence in the bank's future, potentially influencing market sentiment around public sector lenders.
Not investment advice. For informational purposes only.