LIC Increases Stake In Patanjali Foods Limited - Check Total Holding

Insurance behemoth Life Insurance Corporation (LIC) of India has increased its stake in Patanjali Foods Limited. In an exchange filing, LIC said that LIC's stake in Patanjali Foods Limited has been increased to 5.020 per cent from the earlier stake of 4.986 per cent. In its latest purchase of Patanjali Foods shares, the LIC increased its shareholding from 1.80 crore shares to 1.8173 crore shares.

LIC Increases Stake In Patanjali Food Limited - Check Average Purchase Cost

“Pursuant to Regulation 30 of the Listing Regulations, this is to inform that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of Patanjali Foods Ltd. (“Company”) from 1,80,48,377 to 1,81,73,377 i.e., 4.986% to 5.020% of the paid-up capital of the said Company,” LIC said in an exchange filing. 

Patanjali Foods, with a market cap of Rs 63,573.54 crore is one of the largest FMCG players in the country. The purchase of a stake in Patanjali Foods was carried out through open-market purchase on November 26. The company is engaged in the business of processing oil seeds and refining oil for edible use. "Holding in the company touched 5% and the acquisition of 0.034 per cent shares was done on 25.11.2024 at an average cost of INR 1764.965," LIC said. 

LIC On Buying Spree: Check Other Companies Where LIC Increased Stake This Quarter

In this quarter, LIC has increased its shareholding in LTIMindtree Limited from 1,49,06,665 to 2,08,34,009 ie. 5.033 per cent to 7.034 per cent, along with  Bank of Maharashtra, where the company increased its shareholding from 4.05per cent to 7.10 per cent. The BoM purchase was via the QIP route. In October, LIC increased its stake in Apollo Tyres Ltd from 4.983 per cent to 5.030 per cent. On September 17, LIC also increased its shareholding in equity shares of Biocon Ltd.