ICICI Bank to offload 2% in ICICI Prudential Life Insurance

Mumbai, June 13 (IANS) Lending major ICICI Bank on Wednesday said that its Board has approved the sale of up to 2 per cent in the joint venture, ICICI Prudential Life Insurance, in one or more tranches.

The bank, in a BSE filing, said that the sales can be carried out "in any manner permissible under applicable law, including through an 'offer for sale by promoters through stock exchange mechanism'".

On Wednesday, the stock of ICICI Prudential Life Insurance on the BSE closed at Rs 410.25, down Rs 11.70 or 2.77 per cent from its previous close of Rs 421.95 per equity share.

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