With the acquisition, the LIC's stake in BoB increased by 2.1 percent to 11.4 percent. LIC acquired the stake for a consideration of about Rs 750 crore as per the current price. Shares of BoB closed at Rs 159.55 per unit, up 1.04 percent on the BSE.
These shares were acquired over a period between January 16 and May 25, 2015 from the open market, BoB said in a BSE filing.
With acquisition of 4 crore shares for a consideration of Rs 1,520.32 crore, the stake of LIC in Canara Bank has gone up to 14.4 percent, the lender said in a separate filing on the BSE. Prior to this preferential allotment, LIC was holding 3.46 crore shares or 6.7 percent in Canara Bank.

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