LIC raises stake in Baba Ramdev-backed Patanjali Foods to over 9%. Do you own?

Life Insurance Corporation (LIC) of India has hiked it's stake in Baba Ramdev-backed Patanjali Foods Ltd to over nine per cent after acquiring fresh shares on Friday, May 23. According to a regulatory filing by Patanjali Foods to the stock exchanges today, LIC bought shares worth an additional two per cent in the company.

Before the fresh acquisition of shares, LIC owned 2,55,66,046 shares of Patanjali Foods, consisting of a 7.053 per cent stake in the company. On Friday, LIC bought additional 73,51,084 shares of Patanjali Foods, worth 2.027 per cent stake.

After the additional shares bought today, LIC now owns 3,29,17,130 shares of Patanjali Foods, raising it's stake to 9.080 per cent.