The country's biggest private sector lender ICICI Bank has finally disclosed its plans to list four subsidiaries.

The process would start with the listing of India`s biggest private sector lender, brokerage arm ICICI Securities which is excepted to hit the stock market soon.

While replying to a query on whether the first of the subsidiaries would hit the market in next three to six months, ICICI Bank MD and CEO KV Kamath said, "I would think that six-month period is a fair expectation... we have not yet taken the board approval."

Commenting on the valuation of ICICI Bank, Kamath said that looking at the current levels the bank is undervalued. Every company needs to consider unlocking of value at various points of time ... at this point of time would be appropriate to start consider opportunities.

Further he said, “There could be two more cases for unlocking value - MF arm and PE business ICICI Ventures, but they could take some time. The listing of insurance subsidiaries would be subject to the previously proposed holding company for these businesses not coming through.”
The proposal regarding the same is awaiting RBI clearance.

ICICI Bank holds about 74 percent each in ICICI Prudential Life Insurance Co. and ICICI Lombard General Insurance Co., and fully owns ICICI Securities and ICICI Home Finance Ltd.

Today, the Shares of ICICI Bank touched its lifetime high of Rs. 1400 on reports that the bank is looking at listing at least four of its subsidiaries.

At 2:00 pm, the stock was at Rs 1383, up 6% or Rs 75. Around 4,757,089 shares were traded in the counter.