The government’s Specified Undertaking of the Unit Trust of India sold ITC shares at about Rs275.85 apiece, according to the people, who asked not to be identified because the information is private. India raised about Rs6,700 crores from the sale, which was priced around Monday’s close, Gupta said. Before the sale, Prime Minister Narendra Modi’s administration was still more than Rs10,000 crores away from meeting this year’s divestment target of Rs45,500 crores. Malik, a spokesman for the India Finance Ministry, and a representative for LIC declined to comment. ET Now reported earlier on Tuesday that LIC bought the ITC stake, citing unidentified people.

Source: Mint February 07, 2017 10:46 UTC