The Life Insurance Corporation of India (LIC) has disclosed its substantial acquisition of shares in Canara Bank, crossing the 5% threshold as per SEBI regulations. This disclosure, dated November 3, 2026, details the holding and acquisition of voting rights. The move signifies LIC’s growing investment in the banking sector and its increasing stake in Canara Bank’s equity. The exact percentage held after the acquisition stands at 5.841%.
LIC Increases Stake in Canara Bank
The Life Insurance Corporation of India (LIC) has officially informed the market of its significant shareholding in Canara Bank. In a regulatory filing made on November 3, 2026, LIC announced that its holding in the bank has crossed the 5% mark, triggering substantial acquisition disclosure requirements under SEBI regulations. This represents a notable increase in LIC’s investment in the public sector bank.
Detailed Holding and Acquisition
Prior to the acquisition under consideration, LIC held 52,98,51,980.00 shares, representing 5.841% of Canara Bank’s total share capital. The acquisition and sale details provided indicate transactions occurred between May 15, 2024, and November 2, 2026, with the mode of acquisition being through market sale. Following these transactions, LIC’s holding after the sale stands at 34,68,00,442.00 shares, accounting for 3.823% of the total diluted share capital.
The total equity share capital and voting capital of Canara Bank before and after the said acquisition/sale remained constant at ₹18,14,13,02,520.00.
Source: BSE
