Hero MotoCorp says LIC has hiked stake by 2%1 min read . Updated: 22 May 2020, 09:11 PM IST
- 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.
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.
Before the acquisition, LIC held 1,02,57,040 shares of Hero MotoCorp totalling 5.135% stake, it added.
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.
This story has been published from a wire agency feed without modifications to the text.