Purchase of 33,86,486 shares of DRL was made between 15 June 2022 and 30September 2022 by LIC.
Dr Reddy’s Laboratories Ltd said Life Insurance Corporation of India (LIC) has increased its stake in the pharmaceutical firm to 7.7 per cent. The stake increased through purchase of 33.86 lakh shares from open market over a certain period of time, said the firm on 3 October.
Dr Reddy’s Laboratories (DRL) during a regulatory filing said that earlier LIC held around 5.65 per cent stake in the company.
Purchase of 33,86,486 shares of DRL was made between 15 June 2022 and 30September 2022 by LIC. It aggregates to 2.034 per cent stake from the open market, it added.
Afterwards, LIC’s holding in the company stands at 7.7 per cent, it added further.