LIC sells 2 pc stake in ICICI Bank

Countrys largest insurer Life Insurance Corporation LIC has sold 2 per cent stake in private sector lender ICICI Bank through open market transactions. Shares of ICICI Bank on Monday closed 1.28 per cent higher at Rs 520.20 on the BSE.

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 Rs 520.20 on the BSE.