Warburg's Red Bloom Investment sells 3.15 pc stake in ICICI Lombard for Rs 1,576 cr

Red Bloom Investment Ltd, a part of Warburg Pincus group, has sold 3.15 per cent stake in general insurer ICICI Lombard for over Rs 1,576 crore through open market transactions. A total of 1,43,29,658 shares were sold at a price of Rs 1,100.19 per scrip, translating into Rs 1,576.5 crore transaction, the bulk deal data available on NSE showed Tuesday.

In a separate transaction, financial services major Societe Generale bought 29,69,000 shares at Rs 1,100 apiece for Rs 326 crore. As per shareholding pattern on BSE till March quarter, Red Bloom held 5.86 per cent stake in ICICI Lombard.

Shares of ICICI Lombard on NSE closed at Rs 1,116.90, up 1.35 per cent while on BSE, it settled with a gain of 1.37 per cent at Rs 1,117.25 apiece.