Express Pharma

LIC sells over two per cent stake in Sun Pharma for Rs 4,699 cr

Corporation's shareholding in Sun Pharma has decreased from 5.023 per cent to 3.012 per cent of the paid-up capital of the said company

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LIC has sold two per cent of its holding in Sun Pharma for Rs 4,699 crore via open market sale.

“Corporation’s shareholding in Sun Pharma has diluted from 12,05,24,944 to 7,22,68,890 equity shares decreasing its shareholding from 5.023 per cent to 3.012 per cent of the paid-up capital of the said company,” said LIC  in a regulatory filing.

It also informed that the shares were sold at an average price of Rs 973.80 per share.

(Edits by EP News Bureau)

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