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News about ICICI Bank Limited

January 7th, 2008

The media had reports that ICICI Bank Ltd plans to list its 100 percent subsidiary ICICI Securities.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

ICICI Bank Ltd has vide its letter inter-alia stated,”The Bank has not made any announcements in respect of listing of ICICI Securities (I-Sec).The Board of I-Sec has not considered any proposal to list the shares. ICICI Bank evaluates various strategic options in respect of its subsidiaries on an ongoing basis, including in respect of unlocking their market value and would make the appropriate disclosures on any decision being made by the Bank and/or the concerned subsidiary, as applicable.

Entry Filed under: Equity Markets, Banks & NBFC, NSE