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1. Which bank's stake did LIC increase to 7.10% through a Qualified Institutional Placement?
The Life Insurance Corporation of India (LIC) has increased its stake in the Bank of Maharashtra from 4.05% to 7.10% by allotting 25.96 crore equity shares at ₹57.36 each through a Qualified Institutional Placement (QIP). This strategic investment indicates LIC’s confidence in the bank's growth potential and aims to bolster its balance sheet for future expansion plans. The increase in shareholding surpasses 5%, demonstrating LIC's commitment to supporting the public sector bank. This move aligns with LIC's overall investment strategy amidst its recent adjustments in other holdings.