LIC increases stake in IDBI Bank Ltd to 51%

IDBI BANK LTD's Promoter, Life Insurance Corporation of India has purchased 884518351 equity shares of the company through Open Offer. The shares were bought for a total amount of Rs. 10033448056.22.

With this acquisition, the shareholding of Life Insurance Corporation of India has increased from 3275834 (4.05%) to 2147483647 (51%). The shares were acquired during the period 1/18/2019 to 1/24/2019.

Promoter Entity	Shares Acquired / Sold	Date / Period	Holding - Pre Transaction	Holding - Post Transaction
Life Insurance Corporation of India	884273067	1/18/2019 to 1/21/2019	2147483647 (44.31%)	2147483647 (51%)
Life Insurance Corporation of India	100000	1/19/2019 to 1/21/2019	3375834 (4.18%)	3275834 (4.05%)
Life Insurance Corporation of India	145284	1/22/2019 to 1/24/2019	3275834 (4.05%)	3130550 (3.87%)

Shares of the company was last trading in BSE at Rs.55 as compared to the previous close of Rs. 56.15. The total number of shares traded during the day was 450369 in over 1129 trades.

The stock hit an intraday high of Rs. 56.45 and intraday low of 54.45. The net turnover during the day was Rs. 25048829.

Source : Equity Bulls

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