Thursday, January 28News That Matters

Tag: institutional

Top institutional investor LIC buys over 1% stake in Nippon Life AMC

Top institutional investor LIC buys over 1% stake in Nippon Life AMC

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NEW DELHI: Life Insurance protection Company (LIC), India’s largest home institutional investor, emerged a famous minority shareholder in Nippon Life India Asset Management, the corporate that runs Nippon India Mutual Fund. Life Insurance protection Company of India holds 90,62,231 shares or 1.48 per cent within the corporate, in retaining with shareholder knowledge as of December. The stake is valued at Rs 283 crore at presumably the newest market label. It might perhaps now not be ascertained if LIC held any shares within the company earlier, as companies are required to post the identify of a shareholder handiest if its particular person retaining rises above 1 per cent. Purchasing by LIC brought the stake of all insurance companies in Nippon Life India Asset Management to 1.71 per cen...