Life Insurance of India : Sale or disposal of unit/ division/subsidiary
July 19, 2022 at 06:44 am EDT
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LIFE INSURANCE CORPORATION OF.INOIA
Ref. No.: LIC/SE/2022-23/35
Date: July 19th , 2022
To,
The Manager
The Manager
Listing Department
Listing Department
SSE Limited
The National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Tower
Exchange Plaza, 5th Floor, Plot C/1,
Dalal Street
G Block, Sandra Kurla Complex
Mumbai- 400001
Mumbai - 400051
ScripCode: (BSE - 543526/ NSE - LICI}
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Sale of Shares
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation's shareholding in "ICRA LTD" has diluted from 5,60,863 to 3,31,434 Equity Shares decreasing its shareholding from 5.811% to 3.434% of the paid-up capital of the said Company.
The details as required under SEBI (Listing Obligations and Disclosure Requirements� Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated gt September, 2015 are enclosed as "Annexure - A".
Central office, "Yogakshema", Jeevan Bima Marg, Mumbai - 400 021,
Tel.: 66598000
SL No.
1
2
Particulars
Name of the target entity, details in brief such as size, turnover etc.
Whether the acquisition would fall within related party transaction(s) and whether the promoter I promoter group / group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length"
Annexure-A
Details
ICRA LTD.
Market Ca - INR 3,997 Cr.
No
Industry to
which the entity being acquired
3
belongs
Ratings Industry
4
Objects and effects of acquisition (including but
not limited to, disclosure
of
reasons for
acquisition of target entity, if its business is outside the main line of business of the listed entity)
Investment Function.
In ordinary Course of transaction.
5
Brief details of any governmental or regulatory
NIL
approvals required for the acquisition·
6
Indicative time period for completion
of the
There is a decrease of 2% in holding
acquisition;
during the period from 06.09.2021 to
18.07.2022.
7
Nature of consideration - whether
cash
Open Market Sale
consideration or share swap and details of the
same·
8
Cost of acquisition or the price at which the
Holding decreased from 5.811% to
shares are acquired;
3.434%, a decrease of 2.377%
during the period from 06.09.2021 to
18.07.2022 at an average cost of
INR 1541.85
9
Percentage of shareholding / control acquired
3.434%
and I or number of shares acquired;
Brief background about the entity acquired in
10 terms of products / line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity
has presence and any other significant information (in brief);
The Company is involved in rating,
management consulting and outsourcing and information services etc..
IVE DtRECTOR (INVT/BACKOFFICE)
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LIC - Life Insurance Corporation of India published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 10:43:06 UTC.
Life Insurance Corporation of India is an India-based insurance company. The Company is engaged in the business of life insurance in and outside India. It offers a range of individual and group insurance solutions including participating, non-participating and unit linked lines of businesses. The portfolio comprises various insurance and investment products such as protection, pension, savings, investment, annuity, health and variable. Its segments include Life Individual, Participating Pension Individual, Participating Annuity Individual, Non Participating Life (Individual & Group), Non Participating Pension (Individual & Group), Non Participating Annuity Individual, Non Participating Variable individual, Non Participating Health individual, Non Participating Unit Linked. It has approximately 44 products, which include 33 individual products and 11 group products. Its insurance plans include Saral Jeevan Bima, Saral Pension, Arogya Rakshak, Dhan Rekha, Bima Jyoti, and others.