IBN Icici Bank Ltd

 

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 December 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.

 

 

Form 20-F   X

Form 40-F

 

Table of Contents

 

Items:

 

 

1.

Other news

 

 

OTHER NEWS

 

Subject: Disclosure under the 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:

 

The Board of Directors of ICICI Bank Limited (“the Bank”), at its meeting held today, approved a proposal for sale of 19% stake held in ICICI Merchant Services Private Limited (“IMSPL” or “the Company”), an associate of the Bank, subject to receipt of requisite approvals. Consequent to the completion of this transaction, IMSPL will cease to be an associate of the Bank.

 

Pursuant to Regulation 30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular dated November 11, 2024, we wish to provide the following disclosure:

 

a.	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year	Name of associate company: ICICI Merchant Services Private Limited   Revenue from operations during FY2024: ₹ 4.75 billion Net worth of the Company at March 31, 2024: ₹ 6.45 billion
b.	Date on which the agreement for sale has been entered into	Will be executed before June 30, 2025
c.	The expected date of completion of sale/disposal	By June 30, 2025
d.	Consideration received from such sale/disposal	In the range of ₹ 1.60 -1.90 billion

e.	Brief details of buyers and whether any of the buyers belongs to promoter/ promoter group/ group companies. If yes, details thereof	First Data Holdings 1 (Netherlands) BV, a global leader in electronic commerce and payment services. The buyer does not belong to promoter/ promoter group/ group companies.
f.	Whether the transaction would fall within related party transaction? If yes, whether the same is done at “arm’s length”	This transaction does not constitute a related party transaction.
g.	Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangements? If yes, details of the same including compliance with regulation 37A of LODR Regulations	Not applicable
h.	Additionally, in case of a slump sale, indicative disclosure provided for amalgamation/ merger, shall be disclosed by the listed entity with respect to such slump sale	Not applicable

 

The Board meeting commenced at 09:30 a.m. and concluded at 01:40 p.m.

We request you to take note of the above.

 

 

 

 

 

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India.

Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com 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:	December 13, 2024		By:	/s/ Vivek Ranjan
				Name:	Vivek Ranjan
				Title:	Assistant General Manager

 

 

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