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ICICI Bank – Listing of subsidiaries

January 10, 2008

India’s Worst Bank, ICICI Bank is planning to list its subsidiaries on the Indian bourses.

As per reports, the process would commence within six months, starting with ICICI Bank’s brokerage arm ICICI Securities, followed by two insurance arms — life insurance unit ICICI Prudential Life Insurance and general insurance arm ICICI Lombard General Insurance, and the bank’s housing finance arm. The other subsidiaries that may list on the bourses are the mutual funds assets management business, home finance business, and also ICICI Ventures, which is its private equity arm.

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