Temasek selling 1.4% of ICICI Bank

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Temasek selling 1.4% of ICICI Bank

TEMASEK-ICICIBANK:TemasekSingapore state investor Temasek Holdings is selling 1.38 percent stake in India's No. 2 lender ICICI Bank in a deal to raise up to $303 million, according to a term sheet seen by Reuters on Tuesday. selling 1.4 pct of ICICI Bank

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Singapore state investor Temasek Holdings is selling 1.38% stake in India's No. 2 lender ICICI Bank in a deal to raise up to $303 million, according to a term sheet seen by Reuters on Tuesday.

Temasek held 39.83 million shares of ICICI Bank, or 3.46%, as of end-September, via its unit Allamanda, according to Thomson Reuters data.

ICICI Bank shares are being sold in the range of 924 rupees to 937.75 rupees each and Goldman Sachs is the sole bookrunner, the term sheet showed.

ICICI Bank shares closed up 1.1% at 937.75 rupees on Tuesday.

ICICI Bank and Temasek declined to comment.

Also watch the CNBC-TV18's report on the same.