Life Insurance Corporation of India (LIC) on Friday announced that Corporation’s shareholding in Hero Moto Corp Ltd. has diluted from 22,491,571 to 18,482,495 Equity Shares, decreasing its shareholding from 11.252 per cent to 9.246 per cent of the paid-up capital of the said Company, the company announced through an exchange filing.
There was a decrease of 2 percent in holding during the period from June 13, 2022 to December 14, 2023.
Cost of acquisition
The Holding decreased from 11.252 per cent to 9.246 per cent, a decrease of 2.006 per cent during the period from June 13, 2022 to December 14, 2023 at an average cost of Rs 3,416.52.
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About the entity
Hero Mato Corp earlier also known as 'Hero Honda' is one of India's first motorcycle manufacturers. The company started in 1984 as a Technological collaboration with Honda, Japan. Before this collaboration, Hero was selling Cycles under the brand name, Hero Cycles.
Life Insurance Corporation of India shares
The shares of Life Insurance Corporation of India on Friday at 3:30 pm IST closed at Rs 794.50, down by 2.55 per cent.
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