LIC boosts its stake in Dr Reddy's Laboratories from 5.65% to 7.7%

According to Dr Reddy's Laboratories Ltd, Life Insurance Corporation of India raised its ownership in the pharmaceutical company by purchasing 33.86 lakh shares, bringing its interest to 7.7%.

October 04, 2022 8:45 IST | India Infoline News Service

Life Insurance Corporation of India (LIC) expanded its interest in the pharmaceutical company to 7.7% on Monday, according to Dr Reddy's Laboratories Ltd (DRL), which claimed it did so by purchasing 33.86 lakh shares in the open market over time.

According to a regulatory filing from DRL, LIC formerly owned around 5.65% of the firm.

LIC acquired 33,86,486 shares of DRL from the open market between June 15, 2022, and September 30, 2022, totaling a 2.034 percent ownership, it was noted. The company's ownership by LIC now amounts to 7.7%.

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