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LIC raises its ownership in Nestle India to 5%

Life Insurance Corporation buys 40,000 additional shares in Nestle India
BY BEx Bureau
BusinessEx
Aug 23, 2017

In an open market sale, Life Insurance Corporation has purchased 40,000 shares of Nestle India leading FMCG firm. This acquisition has raised the stake holding of the insurance company by 5.01%.

LIC holds 4.97% of shares pre-acquisition of the company which estimates at 47,95,435 shares in Nestle, as per the filing listed in BSE.

The filing further added that the additional stake of 0.21% was acquired on 21st August.

The Nestle India stock closed 0.02% at Rs 6,618.70 on the BSE.

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