1. LIC buys addl 2.19% stake in Andhra Bank in 4 yrs to Aug 2015

LIC buys addl 2.19% stake in Andhra Bank in 4 yrs to Aug 2015

State-run Andhra Bank today said LIC has acquired an additional 2.19 per cent stake in the bank through open market operations during 2011 to 2015.

By: | New Delhi | Published: August 26, 2015 7:15 PM

State-run Andhra Bank today said LIC has acquired an additional 2.19 per cent stake in the bank through open market operations during 2011 to 2015.

After the acquisition, LIC’s total stake in Andhra Bank now stands at 11.48 per cent, the bank said in a filing to the BSE.

The equity share capital/total voting capital of Andhra Bank before the said acquisition of shares by LIC was at Rs 559.58 crore and it increased to Rs 602.84 crore after the acquisition, it added.

The additional stake by LIC took place during June 22, 2011 till August 24, 2015, the filing said.

Andhra Bank shares closed 2.68 per cent lower at Rs 63.45 apiece on the BSE today.

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