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French insurance firm Axa S.A on Tuesday sold ICICI Lombard General Insurance Company shares worth about ₹2,700 crore. According to a bulk deal data on the BSE, Societe Beaujon, the investment holding company of AXA Group, sold 1.75 crore shares at an average price of ₹1,540.13. With this, the French major has completely exited from ICICI Lombard General Insurance. The buyer(s) identity is not known immediately. The promoter, ICICI Bank, holds a 48.08 per cent stake in the company. The stock, after hitting a low of ₹1,540 during the day, closed 1.81 per cent lower at ₹1,548.15 on the BSE.
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