ICICI Bank to sell stake in life insurance arm

  • Jun 15, 2018

ICICI Bank to sell a 2% stake in ICICI Prudential Life in one or more tranches.

ICICI Prudential Life is a joint venture between ICICI Bank and Prudential Corporation Holdings.

ICICI Bank holds the majority shareholding of 54.88, with Prudential's stake at 25.83 per cent (@31/3/18). The rest of the equity is held by public and institutional investors.

The bank said the sale can be through any manner.

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