10.14 Cr ICICI Bank shares sold for Rs 1300 Cr

By SiliconIndia   |   Thursday, 26 September 2002, 07:00 Hrs
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BANGALORE: ICICI Bank today informed the BSE that The Western India Trustee and Executor Company, which was holding shares held by erstwhile ICICI in ICICI Bank, have sold 10.14 crore shares today for around Rs 1,300 crore.

The Trust's shares were acquired by strategic and institutional investors including Hamblin Watsa Investment Counsel, Government of Singapore Investment Corp and Prudential Portfolio Managers (as a part of Prudential plc of the United Kingdom).

The shares were divested at an average price of Rs 130 per share (the average acquisition cost for the erstwhile ICICI was Rs 12.27 per share), the release added.

The proceeds of the divestment, as provided in the scheme of amalgamation, will flow to ICICI Bank.

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