LIC to await Daiichi offer

The Life Insurance Corporation of India (LIC) is yet to take a decision on selling its 15.84 per cent stake in Ranbaxy Laboratories.

The decision under consideration will be made only when Japanese drug-maker Daiichi Sankyo makes its open offer to Ranbaxy's shareholders.

The decision to divest as well as the percentage of stake that will be divested will depend on stock market conditions and terms and conditions of the offer.