 "ICICI Bank approves IPO for life insurance unit")
ICICI Bank's board of directors has agreed to sell a part of its shareholding in ICICI Prudential Life. It did not disclose the size but said at any point of time, they'd continue to remain majority shareholders.
Chanda Kochhar, the managing director, said the intent was to come out with an initial public offering of equity in this financial year.
HDFC has also said its board has agreed to a sale of 10 per cent stake in HDFC Life, through an offer for sale.
Chanda Kochhar, the managing director, said the intent was to come out with an initial public offering of equity in this financial year.
Read more from our special coverage on "LIFE INSURANCE"
HDFC has also said its board has agreed to a sale of 10 per cent stake in HDFC Life, through an offer for sale.