ICICI Bank raises Rs 840 crore by selling 1.5% stake in life insurance arm
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ICICI Bank on Monday said it has sold 1.5 per cent stake in its life insurance subsidiary for around Rs 840 crore with an aim to strengthen the balance sheet. Last week, the lender had informed exchanges about selling a little less than 4 per cent stake in its general insurance subsidiary for Rs 2,250 crore. The bank said on May 9 that it was looking to further strengthen its balance sheet as opportunities arise.