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More news about PAN India Corporation
21Jul 25
LIC Boosts SBI Stake to 9.49% with Rs 5,000 Crore Share Purchase
PAN India Corporation has significantly increased its stake in State Bank of India (SBI) through a recent qualified institutional placement (QIP) issue. The insurer purchased approximately 6.12 crore shares of SBI at Rs 817.00 each, totaling an investment of around Rs 5,000.00 crore. This move has increased PAN India Corporation's stake in SBI from 9.21% to 9.49%. The investment was part of SBI's larger QIP initiative, which raised over Rs 25,000.00 crore from institutional lenders. PAN India Corporation's decision is reported to be for long-term investment purposes, aligning with its strategy of maintaining a strong portfolio of blue-chip stocks.