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LIC Buys Stakes in Voltas

Published on November 09, 2022
Current Context: By buying an additional 2% stake, the Life Insurance Company (LIC) increased its shareholding in Voltas.
LIC Buys Stakes in Voltas
  • The LIC increased its share from 6.862% (2,27,04,306 shares) to 8.884% (2,93,95,224 shares).
  • According to the LIC, Voltas’ shares worth INR 634.50 crores were bought by LIC through open market transactions during the period from 10th August to 4th November 2022.
  • The LIC said that the average price of one share bought was INR 948.31.
  • Voltas is home appliances and consumer electronics-based Indian MNC that was established in 1954 with its headquarters in Mumbai. The current CEO of the company is Pradeep Bakshi.
  • LIC is a Government of India-owned insurance company that was established in 1956 with its headquarters in Mumbai. The current Chairperson of the company is M R Kumar.

Question:

Q.1 Recently LIC bought additional 2% stakes in which Indian MNC?
a. Bajaj
b. Voltas
c. Dabur
d. Suzlon Energy
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