ICICI Bank on Wednesday said it will sell up to 2% of its holding in ICICI Securities through an open market transaction.
ICICI Bank said its board of directors approved the sale of up to 6,442,000 equity shares of ICICI Securities, representing up to 2% of its issued and paid-up equity share capital, through an open market sale, in accordance with applicable law, towards compliance with the requirement of minimum public float of the company.
The announcement was made after market hours yesterday, 26 August 2020. Shares of ICICI Bank rose 0.82% to settle at Rs 389.35 yesterday. Shares of ICICI Securities fell 0.01% to settle at Rs 505.80 yesterday.
ICICI Bank is one of India's leading private banks. The private sector lender posted reported a 36.2% rise in net profit to Rs 2,599.15 crore on a 21.8% jump in total income to Rs 26,069.95 crore in Q1 June 2020 over Q1 June 2019.
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