Singapore state investor Temasek Holdings is selling 1.38% stake in India's No. 2 lender ICICI Bank in a deal to raise up to $303 million, according to a term sheet seen by Reuters on Tuesday.
Temasek held 39.83 million shares of ICICI Bank, or 3.46%, as of end-September, via its unit Allamanda, according to Thomson Reuters data.
ICICI Bank shares are being sold in the range of Rs 924-937.75 each and Goldman Sachs is the sole bookrunner, the term sheet showed.
ICICI Bank shares closed up 1.1% at Rs 937.75 on Tuesday.
ICICI Bank and Temasek declined to comment.
