The Life Insurance Corporation of India (LIC) has reduced its stake in NMDC Ltd by 2%, selling over 5.91 crore shares through market transactions. The sales were carried out from September 2023 to December 2024, the insurer disclosed in a regulatory filing on Friday.
Following the divestment, LIC’s holding in NMDC’s equity shares with voting rights has dropped from 22.31 crore shares, representing 7.6% of the company’s total voting capital, to 16.40 crore shares, accounting for 5.6%.
This move is part of LIC’s broader investment strategy to optimize its portfolio. The reduction in stake aligns with the insurer’s active participation in India’s equity markets and its approach to managing large-cap holdings.
NMDC, India’s largest iron ore producer, has been a key player in the mining sector. LIC’s investment decisions often attract significant attention due to its role as a major institutional investor in India.
