Insurance 22-Aug-23
LIC acquires 6.66% stake in Jio Financial Services
Life Insurance major LIC has picked up 6.66% stake in newly listed Jio Financial Services Ltd.
“Cost of the acquisition was 4.68% of the pre-demerged cost of Reliance Industries Ltd”, according to the notice of the company dated July 19, 2023, LIC said in an exchange filing on Tuesday.
According to the shareholding pattern of the demerged financial arm of Reliance Industries Ltd, the promoter group owns 46% equity in the company.
Jio Financial Services, which entered the bourses on Monday, fell 10% in two days. The share of the company, which started trading at Rs 262 on the National Stock Exchange, ended the session at Rs 248.90. The stock fell 5% due to selling pressure from index funds. The losing streak continued for the second straight day as the stock was stuck in lower circuit at Rs 235.45 on the NSE.
Previous News
Life Insurance Corporation reduces stake held in Aurobindo Pharma
( Corporate News - 13-Sep-24 21:01 )
Life Insurance Corporation pares stake held in Hindustan Copper
( Corporate News - 19-Aug-24 13:59 )
Life Insurance Corporation of India consolidated net profit rises 4.48% in the March 2024 quarter
( Results - Announcements 28-May-24 07:40 )
LIC raises stake in IDFC First Bank
( Hot Pursuit - 05-Jul-24 08:43 )
Life Insurance Corporation of India standalone net profit rises 2.49% in the March 2024 quarter
( Results - Announcements 28-May-24 07:39 )
Life insurers’ premium income rose 22% to Rs 32,644 crore in August
( Insurance - 09-Sep-24 16:12 )
Indices rally for 3rd day; auto shares jump
( Market Commentary - Quick Review 14-Jun-24 15:46 )
Outcome of board meeting of Life Insurance Corporation of India
( Corporate News - 08-Jan-24 19:23 )
LIC hits 52-week high on getting one-time exemption to achieve 25% MPS in 10 yrs
( Hot Pursuit - 22-Dec-23 10:39 )
LIC dilutes its stake in Shipping Corporation of India
( Corporate News - 11-Oct-23 14:47 )
SEBI extends timeline for LIC to achieve 10% public shareholding
( Corporate News - 15-May-24 10:22 )
Other Stories
Bajaj Allianz Life Insurance appoints Srinivas Rao Ravuri as CIO
21-Sep-24 13:45
LIC allocates Rs 600 crore for digital transform; to be 'Paperless' in 2 years
19-Sep-24 09:45
ICICI Prudential Life records highest claim settlement rate in Q1
18-Sep-24 14:12
Aviva Life unveils its new retirement income plan ‘Signature Increasing Income Plan’
11-Sep-24 13:58
Life insurers’ premium income rose 22% to Rs 32,644 crore in August
09-Sep-24 16:12
Insurance regulator IRDAI issues circular to protect interests of policyholders
06-Sep-24 16:08
Star Health Insurance launches India's first insurance policy in Braille
04-Sep-24 20:25
Life Insurance Corporation handover Rs 3,662 crore Dividend cheque to Government
30-Aug-24 09:17
ICICI Prudential life launches tax-efficient ULIP pension product
29-Aug-24 17:50
Max Life Insurance unveils its new ULIP fund ‘Nifty 500 Momentum 50 Index Fund’
20-Aug-24 19:58
Back
Top
