LIC Increases Its Stake in Bank of India to 8.38%. Banking & Finance | Dated: 20 May 2025 In May 2025, Life Insurance Corporation of India (LIC), headquartered in Mumbai, Maharashtra, increased its stake in Bank of India (BoI), also based in Mumbai, from 6.35% to 8.38% through open market purchases. 🎯 Key Highlights: - This additional 2.026% stake was acquired between September 2, 2021, and May 9, 2025, as revealed in a stock exchange filing by BoI. 💡 Other Important Facts: (i) This move highlights LIC’s strong confidence in BoI’s financial health and growth prospects. (ii) As of March 2025, the promoters and promoter group held 73.38% of BoI’s shares, while public shareholders owned 26.62%. Among public investors, State Bank of India’s Public Sector Undertakings (PSU) Fund held a 1.52% stake. 📚 Test Your Knowledge: Which company recently increased its stake in Bank of India to 8.38%? Correct Answer: LIC 🚀 Quick Recap: About LIC Chairperson: Siddhartha Mohanty Headquarter : Mumbai