HDFC Bank: Cabinet approves raising of additional share capital of HDFC Bank up to a maximum of Rs 24,000 crore. The Cabinet Committee on Economic Affairs today allowed an additional Rs 24,000 crore foreign direct investment into private sector lender HDFC Bank.
That will not result in a breach of the 74 percent cap on overseas investors’ stake in the bank, interim Finance Minister Piyush Goyal told reporters after a Cabinet meeting in New Delhi. The current foreign holding in HDFC Bank is 72.78 percent which is being raised to 74 percent through this infusion, he added.
ICIC Bank: ICICI Bank to sell up to 2.87 crore shares or 2 percent equity in ICICI Prudential Life Insurance through stock exchange mechanism. ICICI Bank Ltd. today said its board has approved the sale of up to 2 percent stake in ICICI Prudential Life Insurance Company Ltd., a move that will bring the promoter holding in the insurer closer to the regulatory limit.
The sale of nearly 2.87 crore shares can be in one or more tranches, including through an offer-for-sale by promoters through stock exchange mechanisms, the private lender said in a filing. The floor price for the offer for sale has been fixed at Rs 390 apiece. The share sale is expected to fetch ICICI Bank nearly Rs 1,200 crore at current market price.
Dish TV: Ace investor Rakesh Jhunjhunwala on Thursday picked up a 0.7 percent stake, or 1.3 crore shares, in digital-to-home provider Dish TV.
