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 of March, 2020

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

  

 

 

Item 1

 

 

  

 

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 entered into an agreement on March 25, 2020 to invest in Auxilo Finserve Private Limited (previously known as “Stellenyak General Finance Private Limited”).

 

Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with 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 as size, turnover etc.

Auxilo Finserve Private Limited (“AFPL”),

Total revenue (FY2019): 248.1 million

PAT (FY2019): loss of 45.5 million

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 and its subsidiaries in the normal course of business would have business dealings with AFPL at arm’s length.
c. industry to which the entity being acquired belongs AFPL is an NBFC
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 Since the proposed acquisition of shareholding is below 10.0%, regulatory approval is not required
f. Indicative time period for completion of the acquisition By end of April 2020
g. Nature of consideration - whether cash consideration or share swap and details of the same Cash consideration of upto 511.0 million
h. Cost of acquisition or the price at which the shares are acquired Cash consideration of upto 511.0 million to acquire up to 9.9% equity stake in AFPL
Details of transaction: acquisition of upto 34.1 million equity shares of face value 10.0 per share at a share premium of 5.0 per share
i. Percentage of shareholding / control acquired and / or number of shares acquired Post the proposed investment, ICICI Bank would have a shareholding of  upto 9.9% in AFPL
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)

Date of incorporation: October 4, 2016

AFPL is a non-deposit taking NBFC.

History of last 3 years turnover:

 

FY2019: 248.1 million

 

FY2018: 10.2 million

FY2017: 0.5 million (for the period October 4, 2016 to March 31, 2017)

Country of presence: India

 

You are requested 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: March 26, 2020 By: /s/ Prashant Mistry
      Name : Prashant Mistry
      Title   : Chief Manager

 

 

 

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