New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    How much money did LIC receive by selling 2% of its

    stake in NMDC?
    A Rs 500 crore Correct Answer Incorrect Answer
    B Rs 600 crore Correct Answer Incorrect Answer
    C Rs 700 crore Correct Answer Incorrect Answer
    D Rs 800 crore Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Life Insurance Corporation (LIC) has sold 2 percent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March,2023.LIC notified that its holding in NMDC has decreased from 13.69 per cent to 11.69 per cent during the period between December, 2022 and March,2023.    The sale of 2 per cent stake in open market has fetched over Rs 700 crore to LIC.

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