LIC sells 2% stake in ICICI Bank

Life Insurance Corporation of India (LIC) sold 2.002% stake of the private lender between 27 November 2018 and 24 December 2020.

Post transaction, LIC's stake in ICICI Bank reduced to 6.744% from 8.746% earlier.

Shares of ICICI Bank were up 0.63% at Rs 523.50.

ICICI Bank is one of India's leading private banks. The bank has a network of 5,288 branches and 15,158 ATMs on 30 September 2020. It reported a 549.1% jump in net profit to Rs 4,251.33 crore on 3.9% rise in total income to Rs 23,650.77 crore in Q2 September 2020 over Q2 September 2019.

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