The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Life Insurance Corporation of India
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Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC) has disclosed a sale of 38,904,223 equity shares (2.007% of paid-up capital) of Adani Ports and Special Economic Zone Ltd through open market transactions during the period 11 November 2022 to 10 December 2025. Following this disposal, LIC's holding in the company has come down from 9.350% (19,75,26,194 shares) to 7.343% (15,86,21,971 shares). The disclosure was filed under Regulation 29(2) of SEBI's SAST Regulations, triggered by the 2% change in voting rights holdings. LIC is explicitly stated to NOT be part of the promoter/promoter group. The company's total equity share capital remained unchanged at 2,16,01,38,945 shares.
A 2%+ cut by one of the largest institutional shareholders is a notable negative sentiment signal and could pressure the stock in the short term. Retail investors typically view such large institutional exits as a reason for caution, though LIC's stated holding remains substantial at over 7%.