LIC raises stake in IRCTC to 7.3%, becomes single largest public shareholder

Life Insurance Corporation of India (LIC) has increased its stake in state-owned Indian Railway Catering and Tourism Corporation (IRCTC) to 7.3% from 5.0% earlier through open market purchases.

With over 7% stake, LIC is now the single largest public shareholder in the company.

The purchase of shares was done during the period of October 17 to December 16 at an average price of Rs 692.28, the insurance major said in an exchange filing.


The government had launched an offer for sale to offload 5% stake in the ticketing services major on December 15 and 16.

The offer for sale had received overwhelming response from institutional investors, while bids from retail investors were muted.

Year-to-date, shares of IRCTC have fallen about 19%, lagging the benchmark index Nifty 50, which has given 6% positive returns.

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