ICICI Bank sells 4.41 pc stake in 3i Infotech for Rs 46 cr

MUMBAI: Private sector lender ICICI Bank today sold 4.41 per cent stake in software services provider 3i Infotech for Rs 46.17 crore in open market transactions at both the major bourses in the country.

ICICI Bank, a promoter group firm of 3i Infotech, today sold 28.42 lakh equity shares of the IT firm at a price of Rs 79.79 per piece aggregating to Rs 22.67 crore, according to bulk deal data available on the Bombay Stock Exchange.

In addition, the bank also sold 29.35 lakh shares of 3i Infotech in another bulk deal on the National Stock Exchange at a price of Rs 80.05 per piece totalling Rs 23.49 crore.

As per the shareholding information for the quarter ended June, ICICI Bank held 9.62 per cent stake in 3i Infotech.

In separate deals, state-run insurance major LIC bought 32 lakh shares in 3i Infotech for a total of Rs 25.27 crore in bulk deals at the NSE and the BSE.

For the quarter ended June, Life Insurance Corporation of India Ltd held 7.45 per cent stake in 3i Infotech.

Shares of 3i Infotech closed up 5.95 per cent at Rs 88.20 on the BSE.