ICICI Securities to sell 3 pc equity pre-IPO

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New Delhi, March 04, 2008 : ICICI Securities Ltd, the broking arm of India's ICICI Bank Ltd, plans to sell about 3 percent of its equity to institutional investors ahead of its initial public offering or IPO. The paper, citing an unnamed source familiar with the plan, reportedly said that the private placement was part of a plan to sell 10 percent of ICICI Bank's equity in ICICI Securities.

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