The Life Insurance Corporation of India (LIC) has announced an increase in its equity shareholding in Biocon Ltd. This move has elevated LIC’s stake from 5,98,14,429 shares to 6,03,14,429 shares, translating to an increase from 4.982% to 5.023% of the total paid-up capital of Biocon.
The disclosure, made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicates a strategic investment move by LIC in the pharmaceutical company. The detailed disclosure is also available on the LIC’s official website.
This increase in stake reaffirms LIC’s confidence in Biocon Ltd., which is a significant player in the biopharmaceutical sector. The move is expected to further strengthen Biocon’s market position and potentially enhance shareholder value.
