LIC offloads 2% in BHEL, Axis Bank

The LIC has offloaded 2% stake in Axis Bank and Bharat Heavy Electricals each. As per a regulatory filing, LIC sold 2.004% stake or 5.25 crore shares in Axis Bank, bringing down its total holding in the private sector lender to 10.209%. Between March 21, 2014 and June 20, 2019, the transaction was carried out in the open market. LIC’s holding in Axis Bank fell to 10.2019, following the stake sale. At the same time, in a separate regulatory filing, BHEL said that LIC sold 2.001% of its holding in the company amounting to 6.96 crore shares through the open market. With this, its total holding has come down to 11.701% in BHEL. The stake sale happened between April 4 and June 20.