On Thursday, insurance giant Life Insurance Corporation of India (LIC) said it had raised its stake in online firm Info Edge to more than 5%, with an additional investment of over Rs 12 crore.

In a regulatory filing, LIC said its stake in Info Edge (India) Ltd had increased to 64,69,921 from 64,43,921 shares, representing 4.988% to 5.008% of the company’s paid-up capital.

LIC said its stake in the company exceeded 5% on December 21, 2022. The average cost of acquiring additional shares is Rs 4,790.76 per share.

An additional 26,000 shares of Info Edge have been bought for Rs 12.45 crore. Under regulatory norms, listed companies must notify the stock exchange when the company owns more than 5% of the shares.

Info Edge is an online classifieds company with brands naukri.com (online recruitment), 99acres.com (online real estate), jeevansathi.com (online marriage) and shiksha.com (online education services).