LIC Boosts Stake in Bank of Baroda: A Strategic Move

LIC has increased its stake in Bank of Baroda to 7.05% by acquiring an additional 10.45 crore shares from the open market over 1.5 years. The move, finalized between November 20, 2023, and April 16, 2025, marks a nearly 2% rise from its initial 5.03% holding.

In a strategic move, the Life Insurance Corporation of India (LIC) announced on Monday an increase in its stake in the state-owned Bank of Baroda (BoB) to 7.05%.

The life insurance giant has acquired 10.45 crore additional shares through market purchases over the past year and a half, LIC revealed in its regulatory filing.

This acquisition, spanning November 20, 2023, to April 16, 2025, raises LIC's stake from its previous 5.03% in the Mumbai-headquartered bank. Concurrently, Bank of Baroda shares saw a rise, trading at Rs 250.20 on BSE, marking a 3.09% increase.

(With inputs from agencies.)