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Apr 05, 2010, 06.11 PM IST

ICICI Bank may exit investment in microfinance arm: Sources

ICICI Bank is looking to exit investment in Bhartiya Samruddhi Finance (BSFL), reports CNBC-TV18, qouting sources. BSFL is microfinance institution of Basix.

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ICICI Bank may exit investment in microfinance arm: Sources
ICICI Bank is looking to exit investment in Bhartiya Samruddhi Finance (BSFL), reports CNBC-TV18, qouting sources. BSFL is microfinance institution of Basix.


ICICI Bank holds 2.8% stake in the company. It had invested at Rs 10 per share in 2001.


BSFL's promoters are looking to buy back the shares from ICICI at Rs 14 crore.


The company's shares were valued at Rs 73 per share in 2009. The shares have doubled in value in the last one year. The promoters' stake will be restored to 35.8% with the buyback.


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