homemarket NewsICICI Bank buys 1.65% stake in ICICI Lombard via block deal, Bharti Enterprises identified as seller
ICICI Bank buys 1.65% stake in ICICI Lombard via block deal, Bharti Enterprises identified as seller
A significant 69.8 lakh shares, representing 1.4% equity of ICICI Lombard, changed hands in the block deal window on BSE.
Private sector lender ICICI Bank on Tuesday (February 27) acquired a 1.65% stake (approximately 81 lakh shares) in ICICI Lombard General Insurance Company for ₹1,356 crore through block deals.
Bharti Enterprises is identified as the seller in this transaction.
Simultaneously, a significant 69.8 lakh shares, representing 1.4% equity of ICICI Lombard, changed hands in the block deal window on BSE on Tuesday (February 27).
#CNBCTV18Exclusive | #ICICIBank likely to have bought 1.4% stake in ICICI Lombard via block deals, Bharti Enterprises is likely seller: sources say https://t.co/VxhY4clRFC pic.twitter.com/ggRGAhJYfo
— CNBC-TV18 (@CNBCTV18Live) February 27, 2024
At the BSE, ICICI Bank shares opened marginally lower at ₹1053.75. At the time of writing this report, the shares of the lender were trading 0.71% lower at ₹1046.75.
On the other hand, ICICI Lombard opened lower but gradually moved higher.
At the time of writing this report, ICICI Lombard shares were trading 3.48% higher at ₹1707.35 on the BSE.
(Edited by : Amrita)
First Published: Feb 27, 2024 9:57 AM IST
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