Textile firm Raymond on Wednesday said Life Insurance Corporation of India (LIC) has sold 2.02 per cent stake in the company for a sum of Rs 45.26 crore. In a filing to the Bombay Stock Exchange (BSE),Raymond said LIC has sold 12.4 lakh shares bringing down its stake holding to 9.58 per cent in the company. Prior to the share sale,LIC had 71.26 lakh shares aggregating to 11.61 per cent stake in the textile firm. At present,LIC holds 58.85 lakh shares post the share sale. Shares of Raymond closed at Rs 349.45 on the BSE,up 0.65 per cent from the previous close.
