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ICICI Bank surges on getting nod to divest its 6% stake in life insurance arm

17 Nov 2015 Evaluate

ICICI Bank is currently trading at Rs. 269.40, up by 2.20 points or 0.82% from its previous closing of Rs. 267.20 on the BSE.

The scrip opened at Rs. 271.20 and has touched a high and low of Rs. 272.25 and Rs. 268.50 respectively. So far 296150 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 393.30 on 28-Jan-2015 and a 52 week low of Rs. 248.00 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs. 272.25 and Rs. 259.45 respectively. The current market cap of the company is Rs. 156567.05 crore.

The institutions and non-institutions held 61.97% and 8.99% stake in the bank, respectively.

ICICI Bank has received an approval for sale of 6% out of its shareholding in ICICI Prudential Life Insurance Company, for Rs 1,950 crore, comprising the sale of 4% to Premji Invest & its affiliates and 2% to Compassvale Investments, an indirectly wholly-owned subsidiary of the Singapore-based investment company, Temasek.

The proposed transaction values the company at Rs 32,500 crore, reflecting the substantial value created by the business since its inception. The board of directors at their meeting held on November 16, 2015 has approved for the same.

Upon completion of the transaction, ICICI Bank will hold approximately 68% share of ICICI Prudential Life Insurance Company. Prudential Plc, ICICI Bank’s joint venture partner, will maintain its current share of approximately 26%.

 

ICICI Bank Share Price

1347.50 2.05 (0.15%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
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