LIC Increases Shareholding in HUL to 5.01%

On April 15, 2024, Life Insurance Corporation of India (LIC) informed in a stock exchange filing that the company had increased its shareholding in Hindustan Unilever Limited (HUL).

Details of the Acquisition

Life Insurance Corporation of India has increased its shareholding in HUL from 11,74,63,555 equity shares to 11,77,18,555 equity shares, i.e., 4.99% to 5.01% of the paid-up capital.

Hindustan Unilever Limited, which belongs to the diversified FMCG sector, has a market cap of ₹5,15,735.28 crore.

The nature of consideration for the acquisition was an open market purchase. Regarding the cost of acquisition, Life Insurance Corporation of India stated that the holding in Hindustan Unilever Limited touched 5%. The acquisition of shares was completed on April 12, 2024, at an average cost of ₹2,248.59.

This current acquisition of more shares in Hindustan Unilever Limited is the second one this year for Life Insurance Corporation. In March 2024, Life Insurance Corporation of India increased its shareholding through a private placement basis in LIC Mutual Fund Asset Management Limited (LIC MF). After the said private placement, the shareholding of Life Insurance Corporation in LIC Mutual Fund Asset Management Limited has increased from 5,906 to 6,865 equity shares, i.e., from 40.93% to 44.61% of the paid-up capital.

About Hindustan Unilever Limited

Hindustan Unilever is in the Fast-Moving Consumer Goods (FMCG) business primarily including personal care, home care, beauty, foods and refreshments products. The company has manufacturing units across the country.

On April 16, 2024, the share price of Hindustan Unilever Limited opened at ₹2,183.00, touching the day’s high at ₹2,218.80, as of 12:15 PM on the NSE.

About Life Insurance Corporation of India

Life Insurance Corporation is the largest insurance provider in India. The company provides participating and non-participating products, such as unit-linked insurance products, savings insurance products, term insurance products, health insurance, and annuity and pension products.

On April 16, 2024, the share price of Life Insurance Corporation of India Limited opened at ₹954.95, touching the day’s high at ₹984.30, as of 12:21 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.