The board of ICICI Bank has given its nod for sale of up to 2% of the issued capital of ICICI Prudential Life Insurance Company Ltd.
The approval is for sale of up to 28,711,100 shares or 2% of the issued capital.
The approval is given for sale of these shares in one or more tranches “ in any manner permissible under applicable law, including through an 'offer for sale by promoters through stock exchange mechanism' , as may be permitted and in the manner specified by the Indian regulatory authorities,” the bank said in a filing with the BSE.