Life Insurance Corporation of India (LIC) has reduced its stake in Steel Authority of India Ltd (SAIL) through a series of market sales. Between June 8, 2023, and April 28, 2026, LIC divested 85,142,438 shares, representing a 2.061% holding. Following these transactions, LIC’s total shareholding in the company has decreased from 8.687% to 6.626%. The divestment was conducted entirely through open market transactions.
Details of the Share Divestment
Life Insurance Corporation of India (LIC) has completed a significant sale of its equity holdings in Steel Authority of India Ltd (SAIL). The reduction in stake reflects a strategic move by the insurer, with the divestment process taking place over an extended period from June 8, 2023, through April 28, 2026. During this window, the firm sold a total of 85,142,438 shares in the open market.
Impact on Shareholding Pattern
Prior to the divestment, LIC held an 8.687% stake in the steel manufacturer, amounting to 358,807,919 shares. The sale of 2.061% of the total equity capital brings their current interest down to 6.626%, which equals 273,665,481 shares. This reduction highlights a shift in LIC’s portfolio positioning regarding the metals and mining sector.
Execution and Market Context
The transaction was executed entirely as market sales. As of the completion of this divestment, the total equity share capital of the target company stands at 4,130,52,52,890.00 shares. This disclosure provides transparency regarding the updated ownership structure of the company following the recent disposal of shares by its institutional investor.
Source: BSE
