Life Insurance Corporation of India (LIC) has reduced its stake in Raymond to 9.58 per cent from 11.61 per cent by offloading shares in the open market.
LIC had sold 2.02 per cent stake or 12.41 lakh shares worth Rs 45.26 crore.
The insurance company had 71.26 lakh shares in Raymond before the share sale while currently; it holds 58.85 lakh shares after the share sale.
While promoters hold 39.09 per cent stake, FIIs' holding stood at 6.30 per cent at the end of June. Retail investors including HNIs hold just above 21 per cent stake in the company.
The Life Insurance Corporation of India (LIC) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India.
LIC had sold 2.02 per cent stake or 12.41 lakh shares worth Rs 45.26 crore.
The insurance company had 71.26 lakh shares in Raymond before the share sale while currently; it holds 58.85 lakh shares after the share sale.
While promoters hold 39.09 per cent stake, FIIs' holding stood at 6.30 per cent at the end of June. Retail investors including HNIs hold just above 21 per cent stake in the company.
The Life Insurance Corporation of India (LIC) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India.
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