LIC sells 18.3% stake in MF arm to Nomura

 “As per the agreement between LIC and Nomura, we are selling 18.3 per cent of the total stake of 38.3 per cent in LIC Mutual Fund to Nomura. The rest 20 per cent will be retained by LIC Housing Finance,” LIC Housing Finance Managing Director and Chief Executive, R R Nair told PTI here.

“We are expecting to garner Rs 138 crore out of the deal,” Nair said. GIC Housing Finance, another major stakeholder in the company, has also decided to sell its 11.2 per cent stake in LIC MF.

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