LIC ups stake in Capri Global to over 7%

New Delhi: LIC has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday.

LIC's shareholding in Capri Global Capital has increased from 88,58,348 equity shares to 1,24,00,000 equity shares or from 5.043 per cent to 7.059 per cent of the paid-up capital of the latter, Life Insurance Corporation (LIC) said in a regulatory filing.

The holding increased during the period from February 21 to June 10, through open market purchase at an average cost of Rs 624.61, LIC said. This translates into an investment of about Rs 221.22 crore by the life insurer for the stake buy in Capri Global. Capri Global is an NBFC with presence across different segments like MSME, construction finance, affordable housing and indirect retail lending segments.

Shares of LIC were trading at Rs 673.45 apiece on BSE, up by 0.79 per cent from its previous close, while Capri Global scrip was up 0.14 per cent at Rs 695.30 apiece on BSE.