LIC backed penny stock under Rs 40: This micro-cap IT company signs MoU with Wafer Lead Pvt Ltd (Singapore)! LIC backed penny stock under Rs 40: This micro-cap IT company signs MoU with Wafer Lead Pvt Ltd (Singapore)! Life Insurance Corporation of India (LIC) owns 65,86,464 share or 6.22 per cent stake in the company. Kiran Shroff / Monday, November 6, 2023 / Article rating: 4.1 Life Insurance Corporation of India (LIC) owns 65,86,464 share or 6.22 per cent stake in the company.