Question

How much money did LIC receive by selling 2% of its stake in NMDC?

Q: Answer-How much money did LIC receive by selling 2% of its stake in NMDC?

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.