Life Insurance Corporation of India (LIC) has sold over 2 percent shares in public sector Bank of Baroda in a open market sale in past two months.
The open market sale of over 2.04 percent stake (or 4,69,80,180 shares) took place between July 10 to September 1, Bank of Baroda said in a regulatory filing.
Calculated on a previous close of Rs 138.30 a share on September 1, the valuation of the stake sale by LIC in Bank of Baroda comes out to be Rs 649.74 crore.
Post the stake sale, LIC now holds shares above 7.24 percent (16,70,18,926) in Bank of Baroda.
Earlier, it held about 9.29 percent (21,39,99,106 shares) in the public sector lender.
Bank of Baroda stock closed 1.12 percent down at Rs 136.75 on BSE today.
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