ICICI Bank today said it has received offers from various investors for 5.9% stake in its proposed new subsidiary worth Rs 2,650 crore.
The bank has received definitive offers from investors for subscription to equity shares its new subsidiary for insurance and asset management business, ICICI Financial Services, ICICI Bank said in a communique to the BSE.
The investors have agreed for entering into definitive agreements for this purpose. The offer values ICICI Financial Services at Rs 44,600 crore on a post-issue basis.ICICI, however, did not disclose the details of the investors from whom it had received the subscription offers.
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