LIC Raises Stake In Power Grid Corporation Above 5% Via Open Market Purchase
Add Preferred News Source
LIC's shareholding in Power Grid Corporation crossed the 5% mark after an open market purchase of 19.09 lakh shares, triggering a mandatory regulatory disclosure under SEBI takeover rules.
Life Insurance Corporation of India (LIC) has raised its shareholding in Power Grid Corporation of India Ltd to above 5% through an open market purchase, according to a regulatory disclosure filed on August 18, 2026.
In a filing under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, LIC informed Power Grid and the stock exchanges that it acquired 19.09 lakh equity shares through the open market on August 17, 2026. The purchase took the insurer's stake above the 5% disclosure threshold under SEBI's takeover regulations.
Before the transaction, LIC held 46,40,44,180 shares, or 4.989%, of Power Grid's equity capital. Following the acquisition of 19,09,000 shares, representing an increase of 0.021 percentage points, LIC's total holding rose to 46,59,53,180 shares, or 5.010%.
LIC clarified in its filing that it is not part of Power Grid's promoter or promoter group. The insurer's holding therefore continues to be classified as public shareholding.
Power Grid's total equity share capital remained unchanged at 93,00,60,38,190 shares before and after the transaction, indicating that the increase in LIC's stake resulted from the open market purchase.
The disclosure was made to Power Grid's company secretary and the BSE and NSE in accordance with the applicable regulations.
At market close on August 18, shares of Power Grid Corporation were trading at Rs 410.20, up 0.049%, or Rs 0.20, from the previous close.
Also Read - Torrent Gas Likely To File Fresh IPO Papers For Rs 4,000 Crore Issue This Week
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
