Drug firm Wockhardt on Thursday said the Life Insurance Corporation of India has sold 2.019 per cent stake held in the company for Rs 129 crore.
LIC has sold 22.11 lakh shares of the company, aggregating 2.019 per cent stake through market sale for Rs. 129.09 crore, Wockhardt said in a filing to BSE.
The company said the sale was carried out through “various brokers” but did not specify the buyers name.
Prior to the sale LIC had 55.07 lakh shares in the company, a total of 5.03 per cent stake, it added. After the sale, LIC's holding in Wockhardt has come down to 3.01 per cent, it said. Wockhardt had posted a consolidated net profit of Rs. 342.71 for the year ended March 31, 2012, as against Rs. 90.52 crore in the previous year.
