Temasek Holdings To Sell 1.38% Stake In ICICI Bank (08-Feb-2012)
Allamanda Investments, a unit of Singapore state investment company Temasek Holdings, is likely to sell 1.38% stake in India's No. 2 lender ICICI Bank in a deal to mop up $303 million. The stake sale, which is likely to take place via a block-deal, is being managed solely by Goldman Sachs Group.
Temasek held 39.83 million shares of ICICI Bank, or 3.46%, as of end-September, via its unit Allamanda.
The bank posted a jump of 20.26% in its net profit of Rs 1,728.10 crore for the quarter ended December 31, 2011 as compared to Rs 1,437.02 crore for the same quarter in the previous year. Total income increased by 24.14% from Rs 8,444.75 crore for Q3FY11 to Rs 10,483.73 crore in the quarter under review.
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