While announcing its results for the quarter ended March 31, 2020 on May 9, 2020, ICICI Bank has informed that the Bank would look at further strengthening the balance sheet as opportunities arise. In line with this intent and pursuant to approval granted by the Board, the Bank has today divested 18,000,000 equity shares of face value of Rs 10 each of ICICI Lombard General Insurance Company, representing 3.96% of its equity share capital at March 31, 2020, on the stock exchange for an approximate total consideration of Rs 22.50 billion. Following this, the Bank’s shareholding in ICICI Lombard General Insurance Company stands at approximately 51.9%.
The above information is a part of company’s filings submitted to BSE.
