Life Insurance Corporation (LIC) has sold 2 per cent stake in private sector lender ICICI Bank through open market transactions.
The bank in a regulatory filing said that the country’s largest insurer sold 13.8 crore shares, representing 2.002 per cent stake of ICICI Bank, over a period of November 27 to December 24, 2020.
Following the stake sale, LIC’s holding in the bank has reduced to 6.74 per cent from 8.74 per cent earlier, it said.
Shares of ICICI Bank on Monday closed 1.28 per cent higher at Rs 520.20 on the BSE.
However, it opened on a positive note at Rs 522.80 on Tuesday morning. The shares weretrading at Rs 524.10, up nearly 1 per cent, during the afternoon trading hours.