ICICI Prudential surges 9% on strong OFS response
Updated : March 27, 2019 01:17 PM IST
Prudential Corporation Holdings had proposed to sell 3.71 percent stake in ICICI Prudential.
Prudential will sell 3.73 crore shares representing an equity value of 2.6 percent with an option of selling another 1.59 crore share (1.11 percent).
The company is selling the stake to reach the minimum threshold of public shareholding. As per Sebi guidelines, all listed firms must achieve minimum public shareholding of 25 percent within three years of listing.