ICICI Bank Ltd.

ICICI Bank, the country’s largest private sector lender, is reportedly planning to sell its housing finance arm, ICICI Home Finance, to investors such as private equity funds. The bank may be expecting a valuation of around $700 million from this transaction.  Citibank has the mandate for the transaction. The bank had invited the investment bank to pitch for the mandate three months ago and the decision to appoint Citibank was taken about a fortnight back.

ICICI Bank is India’s largest private sector bank with consolidated total assets of $124.76 billion at March 31, 2014. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.