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Merrill Lynch buys 30 million ICICI Bank shares worth Rs Rs 8.23-bn

The shares were picked up at an average price of Rs 280

Press Trust of India  |  New Delhi 

ICICI, Videocon

on Monday bought nearly 30 million shares of for Rs 8.23 billion through an open market transaction.

According to the block deal data available with BSE, Markets Singapore Pte Ltd acquired 29.4 million shares, amounting to 0.46 per cent stake in the

The shares were picked up at an average price of Rs 280, valuing the transaction at Rs 8.23 billion, the data showed.

The scrips were sold by Baillie Gifford Emerging

is embroiled in a controversy over the alleged conflict of interest and quid pro quo involving its and her family members in extending a loan to

The CBI has launched a preliminary investigation into the Rs 32.5 loan had extended to Videocon in 2012 and the role of Kochhar's husband.

As per the allegations, Videocon invested Rs 64 crore in NuPower Renewables, a firm owned by after Videocon secured a loan from a consortium of lenders, including ICICI Bank.

ICICI Bank's stock ended the day on BSE at Rs 280.45, down 0.05 per cent from the previous close.

First Published: Mon, April 09 2018. 20:00 IST