ICICI Bank sells 18.8*% stake in NIIT Institute of Finance Banking
ICICI Bank
has sold its entire shareholding of 18.8% in NIIT Institute of
Finance
Banking and
Insurance
Training Ltd for Rs6.1 crore, according to the bank's regulatory filing.
The
bank
sold the stake to
NIIT Ltd
. Subsequent to the share
sale
, NIIT-IFBI ceased to be an associate of the bank with effect from June 11.
The board of directors of ICICI Bank had approved this stake sale in April 2025.
In a separate regulatory filing, NIIT said that it also bought 0.49% stake in NIIT-IFBI from individual shareholders in addition to buying stake from ICICI Bank. 'NIIT Limited now holds 100% of the aggregate issued and paid up share
capital
of IFBI and accordingly IFBI has become a wholly owned subsidiary of NIIT Limited'
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