Insurer AXA may sell its entire stake in ICICI Lombard General Insurance, sources informed CNBC-TV18.

AXA has floated a mandate and that is essentially to sell its around 3.8 percent stake which it holds in ICICI Lombard General Insurance. Remember this stake came to the company as a part of the share swap agreement which took place after ICICI Lombard decided to acquire and merge Bharti AXA General Insurance into itself.

This transaction could be done in one or more tranches depending on the appetite. If the appetite is stronger AXA could look at selling this entire stake in one go.

Watch the accompanying video of CNBC-TV18’s Yash Jain for more details.

(Edited by : Anshul)

First Published:Sept 24, 2021 6:14 PM IST