Life Insurance Corporation of India (LIC), the country’s biggest institutional investor, on Thursday sold a 2.27% stake in Reliance Infrastructure Ltd for about Rs263 crore, the company said in a stock exchange filing.
LIC sold 5.972 million shares of Reliance Infrastructure, a part of Anil Ambani’s Reliance Group, bringing down its shareholding to 7.45% from 9.72%.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.
Source: Mint