ICICI Bank to sell 2% stake in I-Sec

ICICI Bank will sell up to 2 per cent stake in its brokerage arm ICICI Securities through an open market sale to meet the minimum public float norms. The board of ICICI Bank on Wednesday approved the sale of up to 64.42 lakh shares of ICICI Securities, representing up to 2 per cent of its issued and paid-up equity share capital, through an open market sale, towards compliance with the requirement of minimum public float, it said in a regulatory filing on Wednesday. As on June 30, 2020, ICICI Bank holds 79.22 per cent stake in it. Under current regulations, all listed entities must have a minimum public float of 25 per cent. Our Bureau