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The country’s largest car maker Maruti Suzuki India today said that Life Insurance Corporation of India has sold 2.53 per cent stake in the company over a period of almost six months.
Post-sale, LIC’s stake in Maruti has come down to 8.247 per cent from 10.777 per cent, the company said in a filing to the BSE.
LIC had sold 62,23,598 equity shares, representing 2.53 per cent, between November 21, 2012, and May 17 this year.
The public sector insurance provider, which is not a part of the promoters’ group of Maruti, sold the shares through open market transactions, the filing said.
LIC owned 3,11,35,128 equity shares of Maruti, which has come down to 2,49,11,530 after diluting the said stake.
Shares of MSI were trading 1.77 per cent down at Rs 1,711 apiece on the BSE in the afternoon trade.
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