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An update from Life Insurance Corp. of India ( (IN:LICI) ) is now available.
The Life Insurance Corporation of India has announced that the Securities and Exchange Board of India (SEBI) has approved its reclassification as a public shareholder of IDBI Bank, subject to certain conditions. This move is part of the strategic disinvestment of IDBI Bank, which involves reducing LIC’s shareholding to 15% or below within two years post-transaction. The reclassification aims to ensure LIC does not exert control over IDBI Bank, aligning with regulatory requirements and potentially impacting LIC’s operational strategy and market positioning.
More about Life Insurance Corp. of India
Life Insurance Corporation of India (LIC) operates in the insurance industry, primarily offering life insurance products and services. It is a state-owned entity and a major player in the Indian insurance market, focusing on providing financial security and investment solutions to its policyholders.
Average Trading Volume: 93,573
Technical Sentiment Signal: Buy
Current Market Cap: 5627B INR
Learn more about LICI stock on TipRanks’ Stock Analysis page.