ICICI Bank share price gains on sale of stake in ICICI Securities
The floor price for OFS set at Rs 440 and will carried out on December 9 and 10.
December 09, 2020 / 09:28 AM IST
ICICI Bank share price gained in the early trade on December 9 after the company approved to sell its stake in ICICI Securities via offer for sale (OFS). The bank plans to sell up to 2.21 percent stake in ICICI Securities.
The company's board approved the sale of up to 7,121,403 equity shares of face value Rs 5 each of ICICI Securities, representing up to 2.21 percent of its issued and paid-up equity share capital, through an offer for sale through the stock exchange mechanism.
The floor price for OFS has been set at Rs 440 and will be carried out on December 9 and 10.
At 09:19 hrs ICICI Bank was quoting at Rs 512.45, up Rs 4.05, or 0.80 percent on the BSE.
The share touched its 52-week high Rs 552.40 and 52-week low Rs 269 on December 30, 2019 and March 24, 2020, respectively.
It is trading 7.23 percent below its 52-week high and 90.5 percent above its 52-week low.