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ICICI Bank hits new high on plans to list subsidiaries(The Hindu Business Line 11th Jan 2008)Share prices of ICICI Bank surged to an all-time high today after its Managing Director, Mr K.V. Kamath, said that the bank plans to list four of its subsidiaries, starting with its broking firm.
The subsidiaries that are proposed to get listed are ICICI Securities and the bank’s home finance subsidiary and two insurance arms.
Mr Kamath also mentioned that the bank could also list its mutual fund arm and ICICI Ventures Ltd, a private equity firm, at some point.
The bank shares gained 3.53 per cent at Rs 1,356.70. During intra-day trading, it touched its 52-week high of Rs 1,399.90
ICICI Bank was also among the top gainers of the day. And this month alone, its share price increased by 10.21 per cent.More
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