Icici Bank Ltd 6-K, filed Mar 11, 2022
Icici Bank Ltd (IBN)
About this 6-K
Icici Bank Ltd filed this 6-K on March 11, 2022.
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month March, 2022
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 |
Indicate by check
mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):
| Yes | No X |
Indicate by check
mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
| Yes | No X |
Indicate by check
mark whether by furnishing the information
contained in this Form, the Registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:
| Yes | No X |
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g 3-2(b): Not Applicable
Table of Contents
| Item | |
| 1. | Other news |
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 (“ICICI Bank”) has signed an agreement on March 10, 2022 for investment in National Asset Reconstruction Company Limited (“NARCL”).
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, we give the below disclosure:
| a. | Name of the target entity, details in brief such as size, turnover etc. | National Asset Reconstruction Company Limited (NARCL)
NARCL was incorporated on July 7, 2021 |
| 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 “arms length” | This transaction does not constitute a related party transaction. ICICI Bank has no promoters.
ICICI Bank, its subsidiaries and its associates in the normal course of business may have business dealings with NARCL at an arm’s length.
|
| c. | Industry to which the entity being acquired belongs | NARCL is an asset reconstruction company |
| d. | Objects and effects 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 | Not required |
| f. | Indicative time period for completion of the acquisition | Equity investment would be in tranches with first tranche of equity investment of ₹ 704.5 million expected to be completed by March 31, 2022 |
| g. | Nature of consideration - whether cash consideration or share swap and details of the same | Total cash consideration of up to ₹ 1,375.0 million in tranches to acquire up to 5.0% equity holding in NARCL |
| h. | Cost of acquisition or the price at which the shares are acquired | Total cash consideration of up to ₹ 1,375.0 million in tranches to acquire up to 5.0% equity holding in NARCL |
| i. | Percentage of shareholding / control acquired and / or number of shares acquired | ICICI Bank would have an equity holding of up to 5.0% in NARCL |
| 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) | National Asset Reconstruction Company Limited
Country of presence: India |
You are requested to please take the above information 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: | March 11, 2022 | By: | /s/ Vivek Ranjan | ||
| Name : | Vivek Ranjan | ||||
| Title : | Chief Manager | ||||