LIC hikes stake in Capri Global Capital

Mumbai

Country's largest domestic institutional investor, Life Insurance Corporation (LIC), has increased its stake in Capri Global Capital Ltd, a diversified non-banking finance company, from 5.04 per cent to 7.06 per cent at an average cost of Rs 624.61 per share, it informed the stock exchanges on Tuesday.

In a notification, the life insurance behemoth noted that the corporation's shareholding in Capri Global Capital Ltd has increased from 8.8 million shares to 12.4 million equity shares increasing its shareholding from 5.043 per cent to 7.059 per cent of the paid-up capital of the said company.

The acquisition of the additional 2 per cent stake in the NBFC for LIC has come at a cost of Rs 221.21 crore.

Capri Global Capital has presence across different segments such as MSME, construction finance, affordable housing, and indirect retail lending segments.

Shares of LIC ended in the green on Tuesday, with shares closing at Rs 674.20, 0.9 per cent higher than previous days close.

On the other hand, shares of Capri Global Capital were down 0.60 per cent at Rs 690.15 from the previous day's close.