Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
05 Februar 2024 - 12:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
ISSUER PURSUANT TO RULE 13a -16 OR
15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of
February 2024
Commission File Number: 001-15002
ICICI Bank Limited
(Translation of registrant’s name into English)
ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)
Indicate by check
mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 Website www.icicibank.com CIN.: L65190GJ1994PLC021012 | Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara 390007. India |
Table of Contents
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 Website www.icicibank.com CIN.: L65190GJ1994PLC021012 | Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara 390007. India |
OTHER NEWS
Subject:
Disclosure under Indian Listing Regulations
IBN
ICICI Bank Limited
(the ‘Bank’) Report on Form 6-K
The Bank has made
the below announcement to the Indian stock exchanges:
We wish to inform
you that ICICI Bank Limited (the “Bank”) has entered into an agreement dated February 2, 2024 at 8:02 p.m. today, in relation
to an investment in the equity shares of a company to be incorporated (“Target Entity”) along with 10 (ten) other shareholders.
Pursuant to Regulation
30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with SEBI circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, we wish to provide the following disclosure:
| a. |
Name
of the target entity, details in brief such as size, turnover etc. |
The Target Entity
proposed to be established with shareholding by financial institutions, banks and non-banking financial companies/housing finance
companies to act as a market intermediary for the promotion and development of residential mortgage backed securities (RMBS) market.
|
| b. |
Whether
the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any
interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s
length” |
This
transaction does not constitute a related party transaction. ICICI Bank has no promoters. |
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 Website www.icicibank.com CIN.: L65190GJ1994PLC021012 | Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara 390007. India |
| c. |
Industry to
which the entity being acquired belongs
|
Financial
services/ Financial intermediary |
| d. |
Objects and
impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside
the main line of business of the listed entity)
|
Financial
investment |
| e. |
Brief details
of any governmental or regulatory approvals required for the acquisition
|
Since
the acquisition of shareholding is below 10%, regulatory approval is not required. |
| f. |
Indicative time
period for completion of the acquisition
|
275
days from the date of shareholders’ agreement |
| g. |
Consideration
- whether cash consideration or share swap or any other form and details of the same
|
Cash
consideration |
| h. |
Cost
of acquisition and/or the price at which the shares are acquired |
Cash
consideration of ₹ 350,000,000/- for acquiring 7% shareholding of the Target Entity |
| i. |
Percentage
of shareholding /control acquired and / or number of shares acquired |
Post investment,
the Bank will hold 7% shareholding in the Target Entity through acquisition of 35,000,000 equity shares of face value ₹ 10
each.
|
| j. |
Brief
background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years
turnover, country in which the acquired entity has presence and any other significant information (in brief) |
The
Target Entity is proposed to act as a market intermediary for residential mortgage-backed-securities (“RMBS”) by investing
in RMBS, facilitating investment/issuance/trade of RMBS, providing liquidity support in the secondary market, extending second loss credit
enhancement, setting-up an information repository of RMBS transactions, developing standards and guidelines to ensure standardization
of RMBS transactions, creating securitization documents for RMBS transactions, leveraging a platform to enable RMBS price discovery,
where ecosystem participants come together and finalise securitisation RMBS transactions, providing warehouse financing, and related
advisory and structuring services.
|
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 Website www.icicibank.com CIN.: L65190GJ1994PLC021012 | Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara 390007. India |
| |
|
Date
of Incorporation: Target Entity is proposed to be incorporated.
History of last 3 years turnover: Not
applicable as the Target Entity is proposed to be incorporated.
Country of presence:
India
|
Request you to please
take the above on record.
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 Website www.icicibank.com CIN.: L65190GJ1994PLC021012 | Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara 390007. India |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorised.
| |
For
ICICI Bank Limited |
| |
|
| Date: |
February 2, 2024 |
By: |
/s/Vivek
Ranjan |
| |
|
|
|
| |
|
|
Name: |
Vivek
Ranjan |
| |
|
|
Title: |
Assistant General Manager |
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