LIC acquires over 2% stake in Tech Mahindra; check details here

Life Insurance Corporation of India (LICI), the country’s biggest insurer, acquired a little over 2% stake or 1,96,28,171 shares in Tech Mahindra through open market purchase.

The 2.004% acquisition has increased LIC's stake in the IT major to 10.84% from the 8.836% stake it held previously, which translates to 10,61,86,709 shares held by the life insurer, according to a regulatory filing.

The share acquisitions were made between June 6, 2023, and September 15, 2025, the filing added.

As of June 30, 2025, 65% of Tech Mahindra’s stake was held by the public and the other 35% by its promoters, including Mahindra & Mahindra at 25.33%, according to the shareholding pattern data.

Mutual funds, consisting of SBI Nifty 50 ETF, Kotak Flexicap Fund, ICICI Prudential Technology Fund, among others, altogether held 16.51% stake in the company.

Insurance companies held a 13.59% stake in the Pune-headquartered IT firm, comprising LIC at 10.31% and SBI Life Insurance at 1.01%, at the end of the June quarter.

Tech Mahindra Q1 results

The Indian MNC reported a 34% year-on-year (YoY) increase in its consolidated net profit to ₹1,140.6 crore in the June quarter of FY26, compared to ₹851.5 crore in the same period last year.

Its revenue from operations surged 2.7% YoY to ₹13,351 crore during the reporting quarter, as against ₹13,005 crore in the first quarter of FY25.

At an operational level, its EBIT (earnings before interest and tax) stood at ₹1,477 crore in the first quarter of the current fiscal, marking a jump of 34% YoY.

Tech Mahindra share performance

The stock closed 0.67% higher at ₹1,530 per equity share on the National Stock Exchange (NSE) on Tuesday. However, the acquisition was announced after the market closed.

The scrip gained 4.43% over the week and 9.15% over the span of six months. On a year-to-date basis, the share declined 9.94%.

While the stock reached a 52-week low of ₹1,209.40 on April 7, 2025, it touched a year’s high of ₹1,807.70 apiece on December 12, 2024.

Tech Mahindra has a total market capitalisation of ₹1.5 lakh crore, as of September 16, 2025, according to data on the NSE.