<p class="title">Private sector ICICI Bank on Tuesday said its board has approved a proposal to sell part-stake in fully-owned broking business subsidiary ICICI Securities through an initial public offer (IPO).</p>.<p class="bodytext">It, however, did not mention the size of the stake it wants to divest. "The board of directors of the bank today (Tuesday) approved the sale of a part of its shareholding in ICICI Securities Ltd (the Company) in an initial public offering by the Company, subject to requisite approvals and market conditions," ICICI Bank said in a regulatory filing.</p>.<p class="bodytext">The lender said the size and other details of the offer would be determined in due course.</p>.<p class="bodytext">The broking arm of the bank offers services such as investment banking, institutional broking, retail broking, private wealth management and financial product distribution.</p>
<p class="title">Private sector ICICI Bank on Tuesday said its board has approved a proposal to sell part-stake in fully-owned broking business subsidiary ICICI Securities through an initial public offer (IPO).</p>.<p class="bodytext">It, however, did not mention the size of the stake it wants to divest. "The board of directors of the bank today (Tuesday) approved the sale of a part of its shareholding in ICICI Securities Ltd (the Company) in an initial public offering by the Company, subject to requisite approvals and market conditions," ICICI Bank said in a regulatory filing.</p>.<p class="bodytext">The lender said the size and other details of the offer would be determined in due course.</p>.<p class="bodytext">The broking arm of the bank offers services such as investment banking, institutional broking, retail broking, private wealth management and financial product distribution.</p>