ICICI Bank is reportedly considering launching initial public offerings (IPOs) in four subsidiaries or sell stake in its insurance ventures once the Government raises sectoral FDI limit. The bank will take a call on this matter once the laws are amended to hike FDI in the insurance sector from the present 26% to 49%, Chanda Kochhar, ICICI Bank CEO and Managing Director was quoted as saying.
She further added that it would help create value for the stakeholders, while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs750 a share. At this price, ICICI's market capitalisation is about Rs800bn compared to market leader SBI's about Rs1.20 lakh crores. ICICI is way off the peak of over Rs1,450. The bank would strive to do everything to add value in the group for the shareholders, Kochhar said.
She further added that it would help create value for the stakeholders, while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs750 a share. At this price, ICICI's market capitalisation is about Rs800bn compared to market leader SBI's about Rs1.20 lakh crores. ICICI is way off the peak of over Rs1,450. The bank would strive to do everything to add value in the group for the shareholders, Kochhar said.
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