ICICI Bank Mulls Share Sale – The Mumbai-based private lender is considering to raise as much as $3billion through a sharesale, News reports citing people familiar with the matter.
The lender intends to start discussions with potential advisors, the sources said.
The proposed share sale is targeted for September, though the timing may change depending on the market conditions.
Considerations are at an early stage and details of the share sale may change.
Spokesperson for ICICI Bank did not respond to News’ request for a comment.
Shares fell as much as 5.6% to Rs 355.25 and it is among the top laggards on the Nifty 50 index.
