ICICI Bank gets IRDAI approval to reduce stake in ICICI Lombard

September 4, 2021 - Source

As at June 30, 2021, ICICI Bank held 51.87% of the equity stake in ICICI Lombard – the general insurance business.

On September 3, 2021, ICICI Lombard informed the exchanges about receipt of approval from Insurance Regulatory and Development Authority of India (IRDAI) for ICICI Bank to reduce the stake in Lombard to 30%. The dilution is subject to compliance with all the regulations.

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