LIC Increases Stake in SBI with Rs 5,000 Crore Investment
Life Insurance Corporation of India (LIC) has raised its stake in State Bank of India (SBI) by acquiring an additional 0.28% stake valued at Rs 5,000 crore. This move increases LIC's holding in SBI to 9.49%. SBI has raised Rs 25,000 crore through Qualified Institutional Placement to support business growth.
- Country:
- India
The Life Insurance Corporation of India (LIC) announced on Monday that it has bolstered its shareholding in State Bank of India (SBI), acquiring an additional 0.28% stake worth Rs 5,000 crore in their latest Qualified Institutional Placement (QIP).
As per a regulatory filing, LIC now holds 87.58 crore equity shares, representing 9.49% of SBI's paid-up capital. This is a rise from 81.46 crore shares or 9.21% previously held.
SBI has successfully raised Rs 25,000 crore via QIP to fuel its business growth. The acquisition's total cost is Rs 5,000 crore at Rs 817 per share, and the listed shares will commence trading on July 24, 2025.
(With inputs from agencies.)
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