 "ICICI Bank okays part stake sale in ICICI Securities through IPO")
It, however, did not mention the size of the stake it wants to divest.
"The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Securities Ltd (the Company) in an initial public offering by the Company, subject to requisite approvals and market conditions," ICICI Bank said in a regulatory filing.
Also Read
The lender said the size and other details of the offer would be determined in due course.
The broking arm of the bank offers services such as investment banking, institutional broking, retail broking, private wealth management and financial product distribution.
The Mumbai-headquartered company operates out of 66 cities and towns across the country and has global offices in Singapore and New York.
ICICI Bank shares traded 1.79 per cent down at Rs 310.50 on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%