New Delhi, April 21: Life Insurance Corporation of India (LIC), the country’s largest public sector insurer, has increased its stake in Bank of Baroda (BoB) from 5.03% to 7.05%. The announcement was made through a regulatory filing submitted to the stock exchanges on Monday.
Open Market Acquisition Over 17 Months
LIC revealed that it acquired approximately 10.45 crore additional shares in Bank of Baroda through open market purchases carried out over a span of nearly 17 months, from November 20, 2023, to April 16, 2025. This strategic move reflects LIC’s growing confidence in the long-term prospects of the state-run lender.
Positive Market Response
Following the announcement, Bank of Baroda’s stock witnessed a surge on the Bombay Stock Exchange (BSE), trading up 3.09% at ₹250.20 per share. The increase in stake by LIC, a significant institutional investor, is being viewed by market analysts as a positive indicator of the bank’s stability and growth trajectory.
LIC’s Strengthening Influence
With this latest acquisition, LIC solidifies its position as one of the major stakeholders in Bank of Baroda. The insurer has a history of significant investments in key public sector banks, and this move aligns with its portfolio strategy focused on long-term, value-driven investments.
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