Merrill Lynch Markets Singapore has bought nearly 3 crore shares of ICICI Bank for Rs 823.40 crore through an open market transaction. It has acquired 2.94 crore shares, amounting to 0.46% stake in the bank. The shares were picked up at an average price of Rs 280, valuing the transaction at Rs 823.40 crore.
ICICI Bank is India’s largest private sector bank by consolidated assets. The bank’s consolidated total assets stood at $165 billion at December 31, 2017. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.
