LIC sells 2% stake in Mahindra and Mahindra

Mahindra & Mahindra (M&M) on Saturday said Life Insurance Corporation of India (LIC) has divested 2% stake in the company.

Post the stake sale of the 2.001% shares, LIC now has 9.958% stake in the company, M&M said in a filing to BSE.

LIC earlier had 11.959 % stake in the company. The insurance firm has sold over 1.2 crore shares through market sale, the company said.