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Mar 13, 2013
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LIC open to buying over 15% stake with govt nod
Life Insurance Corporation of India (LIC) will stay within the 15% limit laid down by the insurance regulator for equity investments in companies but might buy a higher stake if it was to spot a good opportunity, chairman DK Mehrotra said on Tuesday.“We always go to the owners, the government, and we put before them our requirements. They have been good enough to give us a clearance when it was required. I don’t think there has been a dispute on this at any point of time and in future too, if we need to cross 15%, I think if we approach the owners we will get the clearance,” Mehrotra told FE.
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http://www.financialexpress.com
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