Hero MotoCorp says LIC has hiked stake by 2%

State-owned LIC has increased its stake in Hero MotoCorp to 7.146% through acquisition of shares from the open market over a period of time.
By : PTI
| Updated on: 22 May 2020, 09:11 PM
Hero bikes and scooters (Representational Image)
Hero bikes and scooters (Representational Image)
Hero bikes and scooters (Representational Image)
Hero bikes and scooters (Representational Image)

The country's largest two-wheeler maker Hero MotoCorp on Thursday said state-owned LIC has increased its stake in the company to 7.146% through acquisition of shares from the open market over a period of time.

Life Insurance Corporation of India (LIC) acquired 40,16,255 shares amounting to 2.011% stake in the company between June 21, 2017 and May 19, 2020, Hero MotoCorp said in a regulatory filing.

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Before the acquisition, LIC held 1,02,57,040 shares of Hero MotoCorp totalling 5.135% stake, it added.

(Also Read: Hero motosports team rally scales-up unique 'Rally Life Navigator' initiative)

As on the quarter ended March 31, 2020, the promoter and promoter group companies held 34.63 per cent stake in Hero MotoCorp, with public shareholders accounting for 65.37 per cent.

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First Published Date: 22 May 2020, 09:09 PM IST
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