ICICI Bank Ltd to acquire 2% additional stake in ICICI Prudential Life Insurance Company Ltd

The Board of Directors of ICICI Bank Limited (the Bank), at its meeting which concluded today, approved purchase of up to 2.0% additional shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited (ICICI Life). This purchase will primarily be towards maintaining the Bank's majority shareholding in the event of exercise of stock-based compensation of ICICI Life. The above will be subject to receipt of requisite approvals.

Shares of ICICI Bank Limited was last trading in BSE at Rs. 1379.00 as compared to the previous close of Rs. 1404.95. The total number of shares traded during the day was 517501 in over 12690 trades.

The stock hit an intraday high of Rs. 1401.40 and intraday low of 1377.00. The net turnover during the day was Rs. 719031820.00.

Shares of ICICI Prudential Life Insurance Company Limited was last trading in BSE at Rs. 654.45 as compared to the previous close of Rs. 674.00. The total number of shares traded during the day was 48598 in over 4245 trades.

The stock hit an intraday high of Rs. 683.00 and intraday low of 649.05. The net turnover during the day was Rs. 31927607.00.

Source : Equity Bulls

Keywords

ICICIBank INE090A01021 IBN StakeIncrease ICICIPrudentialLifeInsuranceCompany INE726G01019