Mumbai, Aug 30 (TIWN) ICICI Bank has sold 2 per cent stake in ICICI Securities for around Rs 310 crore through open market sale in a step towards meeting the minimum public shareholding norms.

The stake sale would help the bank meet the 25 per cent minimum public shareholding (MPS) requirement.  Following the development, shares of ICICI Bank rose 2.51 per cent to hit a high of Rs 402.30 on BSE. Shares of ICICI Securities advanced 2.72 per cent to Rs 504.30.  ET on Wednesday had reported that ICICI's board approved to offload up to 2 per cent stake in broking and investment banking unit. A total of 6.44 million ICICI Securities shares were to be sold in the open market.