Life Insurance Corporation of India has reportedly reduced its holdings to 3.406% in Bata India Ltd by selling about 13.42 lakh shares in the company for nearly Rs 640mn.
According to reports, LIC had sold the shares, constituting about 2.090% of its stake in recent months, through the stock exchanges. LIC’s current holding in Bata is down to 21,89,030 shares forming 3.406% of equity.
Bata India to switch to large format stores