{"id":17753,"date":"2020-08-26T23:22:44","date_gmt":"2020-08-26T23:22:44","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=17753"},"modified":"2020-08-26T23:22:44","modified_gmt":"2020-08-26T23:22:44","slug":"icici-bank-to-sell-up-to-2-percent-stake-in-icici-securities","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=17753","title":{"rendered":"ICICI Bank to sell up to 2 percent stake in ICICI Securities"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2036066\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1.jpg\" alt=\"icici bank\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2036066\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1.jpg\" alt=\"icici bank\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2036066\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1.jpg\" alt=\"icici bank\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/ICICIbank1-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">The sale is in accordance with the requirement of minimum public float of the company, the private sector lender said.<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/icici-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">ICICI Bank<\/a> on Wednesday said it will sell up to 2 per cent of its holding in <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/icici-securities-ltd-stock-price\/\" rel=\"noopener noreferrer\">ICICI Securities<\/a> through an open market transaction. \u201cThe Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value Rs 5 each of ICICI Securities Limited (company), representing up to 2 per cent of its issued and paid-up equity share capital, through an open market sale,\u201d ICICI Bank said in a regulatory filing.<\/p>\n<p>The sale is in accordance with the requirement of minimum public float of the company, the private sector lender said.<\/p>\n<p>ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank. It offers services like broking, distribution of financial products, wealth management and investment banking.<\/p>\n<p>As of June 30, 2020, ICICI Bank held 79.22 per cent equity holding (25,52,16,095 shares) in ICICI Securities, as per data on BSE. As per Sebi norms, once a company is listed, its promoters are required to bring down their shareholding to 75 per cent within a stipulated period to meet the minimum public float requirement of 25 per cent.<\/p>\n<p>ICICI Securities was listed on the stock markets in April 2018. Stock of ICICI Bank closed at Rs 389.35 apiece on BSE, up 0.82 per cent. ICICI Securities closed nearly flat at Rs 505.80 per share.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/icici-bank-to-sell-up-to-2-pc-stake-in-icici-securities\/2066687\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sale is in accordance with the requirement of minimum public float of the company, the private sector lender said. ICICI Bank on Wednesday said it will sell up to 2 per cent of its holding in ICICI Securities through an open market transaction. \u201cThe Board of Directors of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-17753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/08\/ICICIbank1.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/17753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17753"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/17753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/17754"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}