Life Insurance Corporation of India (LIC) has hiked its stake in Power Finance Corp (PFC) to a little over 5% after purchasing additional shares worth over Rs 3.82 crore through open market purchases as per a regulatory disclosure submitted by Power Finance Corporation (PFC) with the Bombay Stock Exchange.
PFC, a leading lender for power projects, said LIC bought more than 2,64,667 shares or 0.020% stake valued at over Rs 3.82 crore.
With this transaction, LIC's total stake in the power sector lender has increased to 5.017%.
Prior to the latest acquisition of shares, LIC had 4.997% stake in PFC.
PFC's product portfolio includes project term loan, equipment lease financing and consultancy services.
PFC, a leading lender for power projects, said LIC bought more than 2,64,667 shares or 0.020% stake valued at over Rs 3.82 crore.
With this transaction, LIC's total stake in the power sector lender has increased to 5.017%.
Prior to the latest acquisition of shares, LIC had 4.997% stake in PFC.
PFC's product portfolio includes project term loan, equipment lease financing and consultancy services.
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