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Life Insurance Corporation of India (LIC) has increased its stake in Central Bank of India to 6.06% from 3.16%.
Central Bank of India stated that LIC acquired 26.26 crore equity shares, representing a 2.901% stake in the bank, through market purchases on May 22. After this acquisition, LIC’s total shareholding in the bank increased to 6.06%.
According to the latest shareholding pattern, the promoter group held a majority stake of 89.27% in the bank. Insurance companies held 3.26%, while banks owned 1.20%. Foreign Portfolio Investors (FPIs) held a 0.75% stake in the bank.
| Category | Shareholding |
|---|---|
| Promoters | 89.27% |
| Retail And Others | 5.16% |
| Other Domestic Institutions | 4.48% |
| Foreign Institutions | 0.75% |
| Mutual Funds | 0.34% |
Recently, the Government of India announced 8% stake sale in Central Bank of India via an offer for sale (OFS). OFS stands for Offer for Sale. It is a process in which the Government or a company sells its shares to investors through the stock exchange. In this case, the Government of India has announced an OFS to sell an 8% stake in Central Bank of India.
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