The board decided to sell "4 percent to Premji Invest & its affiliates and 2 percent to Compassvale Investments Pte Ltd, an indirectly wholly-owned subsidiary of Singapore-based investment company Temasek," ICICI Bank said in a statement.
Premji Invest is the investment arm of Wipro Group chairman Azim Premji.
"The proposed transaction values the company at Rs 32,500 crore, reflecting substantial value created by the business since inception," it said.
The decision to sell 6 percent stake was taken at the board meeting of ICICI Bank. The proposal to sell 6 per cent is subject to government and regulatory approval, it said.
Upon completion of the transaction, ICICI Bank will hold approximately 68 percent share of the company. Prudential Plc, the foreign joint venture partner will maintain its current holding of approximately 26 percent.
Last month, ICICI Bank decided to sell additional 9 percent stake in its general insurance arm for about Rs 1,550 crore to Prem Watsa run Fairfax Financial Holdings of Canada.

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