Leading private sector bank ICICI on Tuesday, clarified selling 71.21 lakh shares which accounts to 2.21% equity in ICICI securities through an offer for sale. This decision came after SEBI alerted ICICI securities to pay attention in its research reports as it was violating the minimum public shareholding norm. MPS norm suggests companies to maintain a minimum 25% public shareholding and ICICI Bank currently holds 77% in ICICI securities breaching the norm with 2%.On Tuesday the stock closed nearly 1.5% higher at 461.50.
