LIC sells 2 pc stake in ACC for Rs 989 cr

LIC sold the shares over a period of five months,starting from June 2 this year.

Written by Agencies
New Delhi | November 22, 2011 11:46 PM IST

1 min read

Cement maker ACC Ltd today said Life Insurance Corporation of India has sold 37.87 lakh shares or 2.017 per cent stake in the company for around Rs 989 crore through open market transactions.

In a regulatory filing to the Bombay Stock Exchange,ACC said following the transaction,the state-run insurer now holds 10.786 per cent stake in the firm.