YES BANK CEO RANA KAPOOR GETS NEW TERM

MUMBAI: Rana Kapoor won shareholder approval for another term as chief executive officer (CEO) of Yes Bank Ltd, the private lender which has set records for both loan growth and the highest proportion of disputed bad debt among its top private-sector peers. Shareholders voted on Tuesday to grant another threeyear term to Kapoor, who has helmed the bank since 2004. Kapoor’s new tenure will have to be endorsed by RBI.

ICICI Bank to sell 2% stake in life insurance subsidiary

MUMBAI: Private sector lender ICICI Bank Ltd on Wednesday said it will sell up to 2% stake in its life insurance subsidiary ICICI Prudential Life Insurance Ltd. The sale, likely in one or more tranches, will help the bank raise ₹1,180 crore. “The board of directors of the bank today approved the sale of up to 28,711,100 shares, representing up to 2% of the issued and the paid-up equity share capital of ICICI Prudential Life Insurance Co. Ltd,” ICICI Bank informed stock exchanges.

Carlsberg said to plan IPO for its Indian unit

HONG KONG/MUMBAI: Carlsberg A/S is planning a local initial public offering of its Indian business, people with knowledge of the matter said, as it seeks to tap the growing middle class’s increasing thirst for foreign beer. The Danish brewer is interviewing potential arrangers for the share sale over the next few weeks, according to the people, who asked not to be identified because the information is private.

COMPILED FROM MINT REPORTERS AND AGENCIES