After the transaction, ICICI Bank and Fairfax have stakes of around 63% and 22% in ICICI Lombard. Emails sent on Monday to Fairfax, ICICI Bank, ICICI Securities and ICICI Lombard General Insurance did not elicit any response. ICICI Lombard General Insurance is the second insurance company from the ICICI group to go public. ICICI Bank sold a 12.63% stake through the IPO, which valued the life insurer at around Rs48,000 crore. State Bank of India’s life insurance unit SBI Life Insurance Co. Ltd is also planning to go public.

Source: Mint July 11, 2017 19:18 UTC