ICICI Bank To List Four Arms

New Delhi: ICICI Bank will list at least four of its subsidiaries, beginning with its brokerage arm ICICI Securities, and the process will start commence within six months, Managing Director and Chief Executive Officer K V Kamath said today. ICICI Securities could be the first of the lot to hit the capital market, it could be soon followed by two insurance arms life insurance unit ICICI Prudential and general insurance arm ICICI Lombard and the bank''s housing finance arm. Kamath said that listing of insurance and mutual fund subsidiaries would be subject to the previously proposed holding company for these businesses not coming through. The proposal for this is awaiting approval from the Reserve Bank of India. Every company needs to consider unlocking of value at various points of time. ICICI Bank is looking to list separately, Kamath said these issues will be deliberated in due course. The bank would ask clearance from the Board and other statutory requirements at appropriate time.