BlackRock buys ICICI Bank shares worth Rs 1,155 crore

BlackRock Emerging Markets Fund today picked up about 3.54 crore shares of private sector lender ICICI Bank for an estimated Rs 1,155 crore through an open market transaction.

According to bulk deal data available with the National Stock Exchange (NSE), BlackRock purchased a total of 3,53,95,884 shares of the bank.

The shares were bought on an average price of Rs 326.33 apiece, valuing the transaction at Rs 1,155.07 crore, data showed.

BlackRock, a leading providers of investment, advisory and risk management solutions, has an assets under management totalled $5.4 trillion as on March 31, 2017.

For the quarter ended March 31, 2017, ICICI Bank's standalone net profit jumped to Rs 2,024.64 crore from Rs 701.89 crore in the year-ago period.

Total income of the bank however, came down to Rs 16,585.76 crore in March quarter, from Rs 18,590.86 crore in preceding fiscal's last quarter.

Shares of ICICI Bank today settled at Rs 327 on the NSE, up 1.74% from the previous close.