LIC hikes stake in 3i Infotech to 10.69 pc

Life Insurance Corporation of India has raised its stake in software firm 3i Infotech to 10.69 per cent, by purchasing shares worth Rs 28.53 crore through open market transactions.

LIC has bought 36.10 lakh shares, representing 2.14 per cent stake in the software firm, 3i Infotech said in a disclosure on the Bombay Stock Exchange.

Prior to the transactions, LIC held 8.56 per cent stake in the IT firm, which now has gone up to 10.69 per cent or 1.80 crore shares of 3i Infotech.

Shares of 3i Infotech today closed at Rs 84.55 on the BSE, down by 1.63 per cent from its previous close.