Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday said its shareholding in online company Info Edge has crossed 5 per cent with an additional investment of over Rs 12 crore.
Its shareholding in Info Edge (India) Ltd has increased from 64,43,921 to 64,69,921 equity shares, or from 4.988 per cent to 5.008 per cent of the paid-up capital of the company, LIC said in a regulatory filing.
LIC said its holding in the company crossed 5 per cent on December 21, 2022. The acquisition of the additional shares were done at an average cost of Rs 4,790.76 apiece.
The additional 26,000 shares of Info Edge were purchased for Rs 12.45 crore.
As per regulatory norms, listed companies are required to inform the stock exchanges about shareholding in a firm when it crosses 5 per cent.
Info Edge is an online classified company with a portfolio of brands like naukri.com (online recruitment), 99acres.com (online real estate), jeevansathi.com (online matrimonial) as well as shiksha.com (online education services).