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
UPL · price
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Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC) has sold 1,03,19,982 equity shares (2.025% of voting capital) of UPL Ltd through a market sale. Before the transaction, LIC held 5,42,36,770 shares (7.226%); after the sale, its holding stands at 4,39,16,788 shares (5.201%). The disclosure was filed on 2 January 2026 under Regulation 29(2) of SEBI's SAST Regulations, 2011, as LIC's holding crossed below the 7% mark. LIC is not classified as a promoter of UPL, and the mode of disposal was a market sale, not an off-market or preferential deal. The equity share capital of the company remained unchanged at 16,88,67,192 shares.
A major domestic institutional investor trimming its stake by over 2% through a market sale is a negative signal for short-term sentiment and could exert downward pressure on the stock. LIC now sits just above the 5% reporting threshold, meaning further small sales may not require fresh disclosure, which could add to supply concerns.