Private sector lender ICICI Bank today said that it has the Bank has divested 21,500,000 equity shares of face value of Rs. 10 each of ICICI Prudential Life Insurance Company Limited on the stock exchange for an approximate total consideration of ₹840 crore.
Shares of both ICICI Bank and ICICI Pru Life were firm in early trade, up 3% and 4% respectively amid a broader market rally.
ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
Its assets under management (AUM) as on 31st March 2020 were at ₹1,52,968 crore.
On Friday, ICICI Bank on Friday said it has divested 3.96% stake in ICICI Lombard General Insurance Company for ₹2,250 crore on the stock exchange,
