ICICI Bank exits IMSPL with 19% stake sale; deal set for June 2025 closure

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ICICI Bank exits IMSPL with 19% stake sale; deal set for June 2025 closure - Business Standard

Quick Summary:

This decision follows the bank’s earlier announcement in December 2024, when its board approved the proposal to sell its 19 per cent stake in IMSPL.

According to the delegation, some employees were dismissed while on approved medical leave, during sanctioned absences, or after voicing concerns over workplace policies.

ICICI Bank further said that the completion of necessary procedures and the transfer of shares would be communicated in due course.