State-owned Life Insurance Corporation (LIC) bought shares worth over Rs. 5,800 crore in SBI’s Rs. 15,000 crore qualified institutional placement (QIP).
The insurance behemoth bought 38.67 per cent of shares put on the block via QIP by the country’s largest bank earlier this month.
Following the investment, the shareholding of LIC in the SBI has increased to nearly 10.6 per cent from 8.6 per cent.
Europacific Growth Fund picked up 10.62 per cent of the securities, as per a regulatory filing.
Shareholding of insurance companies in SBI has increased to 11.77 per cent after the issue as against 10.14 per cent at the end of March quarter.
