 "ICICI Bank plans IPO of broking arm")
Private sector lender ICICI Bank on Tuesday said it plans to divest part of its stake in broking arm ICICI Securities through an initial public offering (IPO).
“The board of directors has approved the sale of a part of its shareholding in ICICI Securities in an IPO, subject to requisite approvals and market conditions. The size and other details of the offer would be determined in due course,” the bank said in a BSE filing.
This will be the third IPO from the group, after those of ICICI Prudential Life and ICICI Lombard.
In September 2016, ICICI Bank
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