Mumbai: Two years after putting its wholly owned subsidiary ICICI Home Finance on the block, ICICI Bank Ltd is close to selling a majority stake in the company to IndoStar Capital for Rs2,000 crore, two people directly aware of the development said.
Everstone Capital-backed IndoStar will pay Rs2,000 crore for a 67% stake in the company, valuing the home finance unit at a little under Rs3,000 crore, while the private sector lender will continue as a minority shareholder with a 33% stake, the people cited above said on condition of anonymity.
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