Bank Of India has informed the Exchange about General Updates Disclosure submitted by LIC under Regulation 29(2) of SEBI(SAST) Regulations,2011
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Life Insurance Corporation of India (LIC) has disclosed an increase in its shareholding in Bank of India from 6.354% to 8.380%, acquiring an additional 9.22 crore shares (2.026% stake) through market purchases. The buying happened incrementally over a long period from September 2, 2021 to May 9, 2025. LIC is classified as a non-promoter acquirer. After this acquisition, LIC holds 38.15 crore shares in the bank. The disclosure was filed under SEBI takeover regulations, which require such filings whenever an entity's holding crosses 5% and changes by 2% thereafter.
This is a positive signal indicating continued institutional confidence from a major domestic investor. LIC's rising stake brings it closer to the 10% open-offer trigger threshold, which could mean further buying or future regulatory implications. Retail investors may view this as a vote of confidence in Bank of India's prospects.