BlackRock Emerging Markets Fund has picked up about 3.54 crore shares of private sector lender ICICI Bank for an estimated Rs 1,155 crore through an open market transaction. The shares were bought on an average price of Rs 326.33 apiece.
BlackRock, a leading providers of investment, advisory and risk management solutions, has an assets under management totalled $5.4 trillion as on March 31, 2017.
ICICI Bank is India’s largest private sector bank by consolidated assets. For the quarter ended March 31, 2017, ICICI Bank’s standalone net profit jumped to Rs 2,024.64 crore from Rs 701.89 crore in the year-ago period.