NEW DELHI: Life Insurance Corporation of India’s shareholding has climbed by more than 5 percent in the Union Bank of India using acquisition of almost 2 percent added wager in the lender.
LIC held 3.09 percent stake in UBI before, representing 19,79,23,251 equity shares of this lender.
It’s now climbed to 5.06 percent (34,57,64,764 stocks ), according to a regulatory filing of LIC delivered to trades throughout Union Bank of India on Friday.
The life insurance policy behemoth picked up 14,78,41,513 stocks of this lender at a preferential allotment of shares on May 20, 2021, according to the filing.
Union Bank of India had on Thursday shut its Qualified Institutions Placement (QIP), where it raised a total of Rs 1,447.17 crore.
Stock of all Union Bank of India closed at Rs 37.45up 1.63 percent out of their last close.
