Once again LIC has participated in a big way in a Government disinvestment programme. This time it was in Rashtriya Chemicals and Fertilizers, which saw Government's stake sale through offer-for-sale last week.
LIC bought 45.86 per cent of the auctioned shares valued at Rs 142.35 crore.
In a disclosure to the exchanges, LIC said it bought 3.16 crore shares out of the 6.9 crore shares that were offered by the Government.
Through the auction, the Centre had diluted 12.5 per cent stake and raised Rs 310 crore.
The Government had fixed the floor price at a premium of 2.5 per cent over the then prevailing price.
The RCF stock today closed 1.6 per cent lower at Rs 43.15 on the BSE.