Monday, 20 January 2014

LIC sells over 2% stake in Biocon

Life Insurance Corporation of India (LIC) has sold more than 2% stake in Biocon for over Rs 162 crore. Post stake sale, the country’s largest insurer’s stake in Biocon has come down to 3.01% from 5.02% earlier.

LIC has offloaded 4,031,002 shares, for Rs 162.58 crore in Biocon through open market transactions.

Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services.

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