Business Update6 Jul 2024, 12:14 pm
Life Insurance Corporation of India Infuses Additional INR 14 Crores into LIC (Lanka) Limited
AI Summary
Life Insurance Corporation of India (LIC) has announced the infusion of LKR 500 million (approximately INR 14 crores) into its subsidiary, Life Insurance Corporation (Lanka) Limited. This capital injection will increase LIC's shareholding in LIC (Lanka) from 90.91% to 93.75%. The transaction is in compliance with regulatory requirements and is considered an arm's length transaction.
Key Highlights
- LIC infuses INR 14 crores into LIC (Lanka)
- Shareholding increases from 90.91% to 93.75%
- Transaction complies with regulatory requirements
- Arm's length transaction between LIC and LIC (Lanka)