New Delhi: State-owned Life Insurance Corporation (LIC) brought down its stake in Tata Communications by about 2.03 percent in the company through open market transaction.
LIC sold 57.70 lakh shares over a period of five months, Tata Communication said in a filing to the BSE.
At the current market price, LIC would have raised Rs 267.09 crore by selling its 2.03 percent stake in the company.
LIC, which had 7.28 percent stake earlier, brought down its shareholding in the company to 5.26 percent by selling shares between November 20, 2014, and April 10, 2015,
Shares of Tata Communications closed at Rs 462.90 apiece on BSE on Monday, up 2.67 percent from previous close.
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