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Business News/ Markets / Stock Markets/ LIC sells 2 pc stake in ICICI Bank

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LIC sells 2 pc stake in ICICI Bank

1 min read 28 Dec 2020, 09:05 PM IST Join us

PTI

Following the stake sale, LIC's holding in the bank has reduced to 6.74 per cent from 8.74 per cent earlier

LIC's profit is a 66.3% jump from the ₹15,578 crore gains in the year-ago period. (Mint) — LIC's profit is a 66.3% jump from the ₹15,578 crore gains in the year-ago period. (Mint)

NEW DELHI : Country's largest insurer Life Insurance Corporation (LIC) has sold 2 per cent stake in private sector lender ICICI Bank through open market transactions.

The insurer sold 13.8 crore shares, representing 2.002 per cent stake of ICICI Bank, over a period of November 27 to December 24, 2020, the bank said in a regulatory filing.

Following the stake sale, LIC's holding in the bank has reduced to 6.74 per cent from 8.74 per cent earlier, it said.

Shares of ICICI Bank on Monday closed 1.28 per cent higher at ₹520.20 on the BSE.

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Updated: 28 Dec 2020, 09:05 PM IST

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