Life Insurance Corporation of India (LIC) has increased its stake in public sector lender Bank of India (BoI) to 8.38 percent as of May 9, 2025, according to a stock exchange filing made by the bank on Tuesday.
The insurance giant acquired an additional 2.026 percent stake in the bank between September 2, 2021, and May 9, 2025, raising its holding from 6.35 percent to the current 8.38 percent over the four-year period.
The announcement comes as BoI shares saw a modest uptick in Tuesday’s trading session, ending 2.27 percent higher at ₹112.55 apiece on the Bombay Stock Exchange (BSE).
LIC, India’s largest institutional investor, has consistently maintained significant equity positions in several public sector banks. The latest stake hike reaffirms its strategic interest in the banking sector amid the ongoing emphasis on financial sector consolidation and performance-driven investment.
About Bank of India
Bank of India is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT, which facilitates provision of cost-effective financial processing and communication services.
About LIC
The Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai. It is India’s largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$620 billion) as of March 2024. It is under the ownership of Government of India and administrative control of the Ministry of Finance.
