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ICICI Bank strengthens on acquiring 9.9% stake in Kisan Rural Finance

05 Mar 2019 Evaluate

ICICI Bank is currently trading at Rs. 355.90, up by 2.40 points or 0.68% from its previous closing of Rs. 353.50 on the BSE.

The scrip opened at Rs. 355.00 and has touched a high and low of Rs. 356.30 and Rs. 352.85 respectively. So far 107187 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 383.35 on 09-Jan-2019 and a 52 week low of Rs. 256.50 on 16-Jul-2018.

Last one week high and low of the scrip stood at Rs. 357.40 and Rs. 343.35 respectively. The current market cap of the company is Rs. 229321.56 crore.

The Institutions and Non-Institutions held 89.08% and 10.92% respectively.

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.

Peers
Company Name CMP
HDFC Bank 717.00
ICICI Bank 1352.00
Axis Bank 1220.35
Kotak Mahindra Bank 409.60
Indusind Bank 957.60
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