Life Insurance Corporation (LIC) of India has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) from 5.005 per cent to 7.278 per cent. The purchase of shares took place between October 17 and December 16, at an average price of ₹692.28, LIC said in its corporate filing.
The government last week launched an offer for sale (OFS) to sell 5 per cent stake in IRCTC. The OFS includes base issue size of two crore shares or 2.5 per cent stake, with an option to retain over-subscription of another 2.5 per cent, taking the total issue size to four crore shares or 5 per cent stake.
Shares of IRCTC closed at 0.67 per cent higher at ₹676.65 on the BSE.