ICICI Bank will acquire 9.9% stake in Kisan Rural Finance for cash consideration of Rs 17.82 crore. The bank proposed to acquire 14.9 million equity shares of face value Rs 10 per share at a share premium of Rs 2 per share. The Bank is likely to complete the acquisition by end of March 2019.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.
