India: ICICI Bank to sell up to 2.21% stake in ICICI Securities

India: ICICI Bank to sell up to 2.21% stake in ICICI Securities

People exit an entrance of ICICI Bank Ltd.'s head office in Mumbai, India. Photographer: Kuni Takahashi/Bloomberg

ICICI Bank on Tuesday said its board has approved selling up to 2.21% of its holding in ICICI Securities Ltd through an offer for sale (OFS) to meet the bank’s minimum public float requirement as mandated by the markets regulator.