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
MARICO · price
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Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC) has disclosed a market sale of 2,57,73,028 shares (2.006% of equity) in Marico Ltd, taking its holding down from 6,46,49,857 shares (5.006%) to 3,88,76,829 shares (3.000%). The disclosure is filed under SEBI's SAST Regulation 29(2), which is triggered for any 2% change in holding when a shareholder is in the 5-10% bracket. LIC has clarified it does not belong to the promoter/promoter group. The transaction period noted is June 5, 2021 to June 11, 2025 (the start date appears to be a likely typo in the filing).
A 2% open-market sale by a major institutional investor like LIC is generally seen as mildly negative for short-term sentiment and may put some pressure on the stock. LIC falling below the 5% threshold also means less detailed disclosure obligations going forward, and could signal reduced institutional conviction in the stock.