ICICI Bank sells 3 per cent stake in Federal Bank

Mumbai, Mar 13 (UNI) Private sector banking major ICICI Bank Limited has sold three per cent of its shareholding in Kerala-based Federal Bank Limited.

An ICICI Bank spokesperson said that ICICI Bank's holding in Federal Bank now stands reduced to four per cent. The Bank, which originally held eleven per cent stake in Federal Bank, had earlier also sold another four per cent of its stake.

ICICI Bank sold 25.7 lakh shares today at Rs 187 per share in a block deal to International Finance Corporation (IFC), the private investment arm of the World Bank.

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