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
DIVISLAB · price
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Life Insurance Corporation of India (LIC), a non-promoter institutional shareholder, has disclosed a market sale of 53,54,352 shares (2.017% of equity capital) in Divis Laboratories. The sale was carried out between 7 November 2022 and 16 January 2025. Before the sale, LIC held 1,33,60,663 shares (5.033%); after the sale, its holding stands at 80,06,311 shares (3.016%). Since LIC has crossed below the 5% substantial shareholder threshold, this Regulation 29(2) disclosure was triggered.
This is a long-term institutional sell-down by LIC (not a promoter), reducing its stake below the 5% disclosure threshold. While the actual trades occurred over a 2+ year period (Nov 2022 – Jan 2025), the disclosure itself may have a mild negative sentiment impact as it signals continued trimming by a major domestic institutional investor.