Report of Foreign Issuer (6-k)
March 27 2020 - 6:07AM
Edgar (US Regulatory)
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.
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):
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):
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:
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
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.
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Auxilo Finserve Private
Limited (“AFPL”),
Total revenue (FY2019):
₹ 248.1 million
PAT (FY2019): loss of
₹ 45.5 million
|
b.
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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”
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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.
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industry
to which the entity being acquired belongs
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AFPL is an NBFC
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d.
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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)
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Financial investment
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e.
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Brief
details of any governmental or regulatory approvals required for the acquisition
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Since the proposed
acquisition of shareholding is below 10.0%, regulatory approval is not required
|
f.
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Indicative
time period for completion of the acquisition
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By end of April 2020
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g.
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Nature
of consideration - whether cash consideration or share swap and details of the same
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Cash consideration
of upto ₹ 511.0 million
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h.
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Cost
of acquisition or the price at which the shares are acquired
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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.
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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.
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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
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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.
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For
ICICI Bank Limited
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Date:
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March 26, 2020
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By:
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/s/
Prashant Mistry
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|
|
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Name :
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Prashant Mistry
|
|
|
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Title :
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Chief Manager
|
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