Life Insurance Corporation of India (LIC) has disclosed its acquisition of a 4.625% stake in Steel Authority of India Ltd (SAIL). This transaction, categorized as a market sale, saw LIC’s holding increase to 191,032,968 shares, representing the aforementioned percentage of the total equity. The acquisition occurred between April 28, 2026, and September 1, 2026, with the total equity capital of SAIL remaining at ₹41,305,252,890.00 throughout the period.
LIC Increases Holding in SAIL
Life Insurance Corporation of India (LIC) has officially announced its substantial acquisition of shares in Steel Authority of India Ltd (SAIL). The transaction, conducted through open market sales, has resulted in LIC’s holding in SAIL reaching 191,032,968 shares. This represents 4.625% of the total equity share capital and voting rights in SAIL.
Transaction Details
The acquisition process took place over a period spanning from April 28, 2026, to September 1, 2026. During this time, the total equity share capital of Steel Authority of India Ltd remained constant at ₹41,305,252,890.00.
Previous Holding
Prior to this acquisition, LIC held 273,665,481 shares in SAIL, amounting to 6.625% of the company’s total share capital. The current disclosure reflects a reduction in shares and voting rights held by LIC.
Acquisition Context
The disclosures are made in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for entities holding more than 5% shares in a listed company. LIC is providing its DP IDs, Client IDs, and PAN number as required.
About the Companies
Steel Authority of India Ltd is a major steel producer in India. Life Insurance Corporation of India is the largest institutional investor in the country’s capital markets.
Source: BSE
