LIC ups stake in SBI to 9.49% via QIP route, buys over 6.1 crore shares worth Rs 5,000 crore

LIC increased its stake in SBI from 9.21% to 9.49% through participation in SBI’s record Rs 25,000 crore QIP. The offering saw overwhelming interest, receiving bids worth Rs 1.10 lakh crore from 120 institutional investors globally.