LIC raises stake in Biocon to 5.02%

Life Insurance Corporation (LIC) on Tuesday said it has increased its stake in pharma firm Biocon to 5.02 per cent.

Earlier, LIC had 4.98 per cent stake in the pharma company.

"Life Insurance Corporation of India has increased its shareholding in equity shares of Biocon Ltd from 5,98,14,429 to 6,03,14,429 i.e., 4.982 per cent to 5.023 per cent of the paid-up capital of the said company," the insurer said in a regulatory filing.