LIC Boosts Stake in Bank of India to 8.38%

Life Insurance Corporation (LIC) has increased its stake in Bank of India to 8.38% as of May 9. LIC acquired approximately 2.026% more in BoI from September 2021 to May 2025. BoI shares rose by 2.27% to close at Rs 112.55 on the BSE.

The Life Insurance Corporation (LIC) has bolstered its share in the Bank of India (BoI), raising its stake to 8.38% by May 9. This strategic move saw LIC acquiring an additional 2.026% stake over the past four years.

From September 2021 to May 2025, LIC has steadily increased its investment in the public sector lender. The announcement came through a disclosure on the stock exchange on Tuesday, indicating LIC's growing interest in BoI.

The market responded positively to this development, with BoI shares rising by 2.27%, closing at Rs 112.55 on the Bombay Stock Exchange (BSE).

(With inputs from agencies.)