LIC raises stake in IGL to 7.2%

State-owned insurance group, Life Insurance Corporation of India, has raised its stake in Indraprastha Gas Ltd by over 2 per cent to become the third largest shareholder in the company, said the media report.

LIC's acquisition of 2.107 per cent additional shares has made it the third largest shareholder in IGL added the media report. LIC had last week acquired 2.95 million equity shares of IGL, the firm that sells CNG in the national capital, from the open market to increase its shareholding in the company from 5.097 per cent to 7.204 per cent, according to disclosures made by IGL to the stock exchanges.

Earlier to this, Allard Partners Ltd with 5.93 per cent shares was the third largest shareholder in IGL, whereas HDFC Standard Life Insurance Co Ltd holds 4.78 per cent stake in the firm.

GAIL India Ltd, the nation's largest gas distributor, and state refiner Bharat Petroleum Corp Ltd (BPCL) hold 22.5 per cent stake each in IGL, while the Delhi Government has 5 per cent equity.

Dion Global Solutions Ltd.

Read more about: lic, igl, open market, gail india, bpcl, cng
Story first published: Monday, February 10, 2014, 9:15 [IST]
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