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
BANKBARODA · price
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Life Insurance Corporation of India (LIC), which is not part of the promoter group, has disclosed acquisition of 10,45,41,403 equity shares (2.022%) of Bank of Baroda through market purchases between 20 November 2023 and 16 April 2025. This takes LIC's total holding from 5.031% (26.02 crore shares) to 7.053% (36.48 crore shares) in Bank of Baroda. The disclosure is filed under Regulation 29(2) of SEBI Takeover Regulations as LIC has crossed the 5% disclosure threshold. LIC is now the largest non-promoter shareholder in the public sector bank, edging closer to the 10% SAST trigger level.
Positive signal for Bank of Baroda as a major domestic institutional investor is steadily increasing its stake, reflecting confidence in the bank's prospects. The creeping acquisition toward the 10% threshold means LIC must carefully pace further purchases to avoid triggering an open offer obligation.