Meanwhile, the company has diluted its shareholding in Oil India from 11.727% to 9.689%. It has sold 12,71,67,248 shares or 2.038% equity, at an average price of Rs 259.37 through open market sale during the period from 27 March 2018 to 20 September 2023.

Oil India is a state-owned Maharatna under the administrative control of India's Ministry of Petroleum and Natural Gas. As of 30 June 2023, the Government of India held 56.66% stake in the company.

Gujarat Gas (GGL) is India's largest CGD company, with 27 CGD licenses spread across 43 districts in six states and one union territory. GGL is engaged in distribution of natural gas (piped and compressed) and currently supplies PNG to industrial, commercial and domestic customers along with CNG to the transportation sector.

LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.

Shares of LIC rose 0.59% at Rs 658.40, Gujarat Gas rose 0.37% to Rs 442.75 while Oil India rose 0.83% to Rs 278.55 on the BSE.