LIC sells 2.% Raymond stake

Shares of Raymond closed at Rs 349.45 on the BSE,up 0.65% from previous close.

Written by Agencies
New Delhi | September 14, 2011 09:50 PM IST

1 min read

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.