Indian Bank
LIC decreased its stake in Indian Bank from 2.27% to 1.87%, reducing its shareholding from 30,589,037 shares to 25,223,236 shares. The value of the sold shares is ₹481.36 Cr at ₹897.00 apiece.
A public sector bank established in 1907, Indian Bank provides comprehensive financial services including deposits, loans, and treasury operations to customers across India. The bank operates through four main business segments: Treasury, Corporate and Wholesale Banking, Retail Banking, and Other Banking Operations, serving both individual and institutional customers with a diverse range of banking solutions and financial products tailored to their needs.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.