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Life Insurance Corp. of India raises stake in IDBI Bank

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Life Insurance Corp. of India raises stake in IDBI Bank

IDBI BankLtd. said March 28 that Life Insurance Corp. of India raised its in the lender to 14.37%from 7.21%.

LIC acquired 158,761,801 additional shares in IDBI Bank,representing a stake of 7.16%, via preferential allotment March 23.

Pricing details of the transaction were not disclosed.